Govt not financing purchase of new PIA aircraft, says finance adviser

"The government is neither purchasing aircraft for PIA after privatisation nor has any announcement been made of a government guarantee or loan funded by taxpayers' money for that purpose," Schehzad remarked.پی آی اے اور امریکی ایکسپورٹ امپورٹ بینک کے حوالے سے حقائقگردش کرنے والے بعض تبصروں میں نجکاری اور برآمدی قرضہ فراہم کرنے والے ادارے کے کردار کو درست طور پر نہیں سمجھا گیا۔حکومت نہ تو نجکاری کے بعد PIA کے لیے طیارے خرید رہی ہے اور نہ ہی اس مقصد کے لیے کسی حکومتی ضمانت یا…— Khurram Schehzad (@kschehzad)September 27, 2026He noted that the primary objective of the US Exim Bank was to promote US exports and employment.

"Boeing aircraft are US exports. Therefore, the US Export-Import Bank provides financial assistance to foreign buyers purchasing US-made aircraft, including airlines, under established financial mechanisms". Schehzad said the US agency’s framework allowed for asset-backed aircraft financing, under which the aircraft itself could serve as security, while the creditworthiness of the airline, lessee or any guarantor could also be assessed.

“A government guarantee is not a mandatory condition,” he said. Schehzad said the government’s involvement was limited to facilitating access to international financing, technology and suppliers, as well as promoting commercial opportunities for Pakistani businesses.

He added that the finance minister’s discussions with US Exim Bank were broader than PIA and included potential financing in areas such as aviation, refinery expansion and the Reko Diq project. The adviser also rejected suggestions that the proposed aircraft financing would create a "hidden subsidy" or transfer PIA’s commercial risks to taxpayers.

"Therefore, claims such as "public debt," "hidden subsidy," "state financial backing," or taxpayers bearing PIA's commercial risk should not be presented as facts, as no such arrangement has been announced". Read More:Arif Habib Consortium takes over PIA management as govt formally completes privatisation process.

He said no government borrowing for PIA or sovereign guarantee had been announced and that references to potential US Exim financing should not be treated as confirmation of a state-backed loan. "No announcement has been made by the Government of Pakistan to take out a loan for PIA or issue any government guarantee".

Schehzad stated that PIA was privatised following an auction in December last year, with the transaction aimed at transferring ownership and commercial management of the national flag carrier to the private sector. "Privatisation means the transfer of ownership, commercial management and operations.

It does not mean that the Government of Pakistan abandons its role in creating opportunities for Pakistani companies and opening international doors," he said.