ISLAMABAD: The Chinese air chief has praised Pakistan’s military response during its May conflict with India as a “textbook example” of modern warfare, the Pakistan army said on Tuesday, quoting remarks that come amid renewed Indian allegations of Chinese support to Islamabad during their latest conflict in May. 

Lt. Gen. Wang Gang, chief of staff of the People’s Liberation Army Air Force (PLAAF), made the comments during a high-level visit to Islamabad on Monday, where he met Pakistan’s Air Chief Marshal Zaheer Ahmed Baber Sidhu and discussed regional security, airpower cooperation, and bilateral military ties.

“He praised the decisive and measured response delivered by PAF pilots under the resolute leadership of the Air Chief, describing it as a textbook example of precision, discipline and courage in the face of unprovoked aggression,” the Pakistani army said in an official statement, quoting Wang. 

The Chinese general “paid rich tribute to the exemplary performance” of the PAF during the conflict with India, which took place from May 7 to 10 and involved drones, missiles, and artillery fire before a US-brokered ceasefire ended hostilities.

Wang’s remarks follow claims by Indian Army Deputy Chief Lt. Gen. Rahul Singh, who last week alleged China had provided Pakistan with “live inputs” about Indian military positions during the May fighting. Pakistan’s army chief Field Marshal Syed Asim Munir has rejected the claim as “factually incorrect” and a “shoddy attempt” to explain India’s battlefield failures.

While Beijing has not officially responded to the Indian allegations, the Chinese delegation’s strong endorsement of PAF’s conduct has added diplomatic weight to its deepening military alignment with Islamabad.

“Lt. Gen. Wang Gang expressed deep appreciation for the high state of operational readiness and the cutting-edge capabilities of Pakistan Air Force,” the official statement said, adding that he was “particularly impressed by PAF’s seamless integration of Multi-Domain Operations, terming it a hallmark of modern air warfare.”

The visiting delegation was also given a detailed briefing on the PAF’s evolving force structure, modernization plans and strategic initiatives.

Air Chief Marshal Sidhu “reiterated that Pakistan and China enjoy historic and time-tested ties rooted in mutual trust, strategic convergence and shared aspirations for regional peace & stability,” the statement added.

Pakistan and China have long collaborated on airpower development, including co-producing the JF-17 fighter jet and holding joint training exercises. But their military alignment has grown closer in recent years, particularly amid rising tensions with India, with whom both have longstanding disputes. The latest visit reinforces that trajectory, military observers say.

“The meeting stands as a testament to the shared resolve of Pakistan and China to advance their time-tested strategic partnership through deepened cooperation and innovation-driven collaboration,” the Pakistani military said.

In an address this week, Munir said India had failed to achieve its stated military objectives in “Operation Sindoor,” New Delhi’s campaign during the May conflict.

Pakistan said it launched “Operation Bunyan Al Marsoos” in retaliation for Indian attacks on civilian and military sites. India claimed it had only targeted militant infrastructure.

Tensions between the neighbors had escalated into a brief war after an April 2025 militant attack in Indian-administered Kashmir killed several tourists, an incident New Delhi blamed on Pakistan, which Islamabad denied.
 

KARACHI: Pakistan has prequalified four investors for the sale of Pakistan International Airlines (PIA), while its Cabinet Committee on Privatization (CCOP) has approved the transaction structure for the denationalization of the Roosevelt Hotel in New York under a joint venture, the ministry of privatization said on Tuesday.

Pakistan has been seeking to sell a 51-100 percent stake in the struggling national airline to raise funds and reform cash-draining, state-owned enterprises as envisaged under a $7 billion International Monetary Fund program. It would be the country’s first major privatization in nearly two decades.

Among the bidding groups, one is a consortium of major industrial firms Lucky Cement, Hub Power Holdings, Kohat Cement and Metro Ventures. Another is led by investment firm Arif Habib Corp. and includes fertilizer producer Fatima Fertilizer, private education operator The City School, and real estate firm Lake City Holdings. Additionally, Fauji Fertilizer Company, a military-backed conglomerate, and Pakistani airline Airblue, have been approved to bid for PIA.

“The prequalified parties will now proceed to the buy-side due diligence phase — a critical next step in the transparent and competitive privatization process of PIACL,” the privatization commission’s statement said.

PIA, once a respected carrier in Asia, has been propped up by taxpayers for decades due to political interference, corruption and inefficiencies. The airline’s privatization has repeatedly collapsed amid union resistance, legal hurdles and low investor appetite.

Pakistani state-owned enterprises post annual losses of more than Rs800 billion ($2.87 billion), and when subsidies, grants and other support are included, the burden swells beyond Rs1 trillion ($3.59 billion), Finance Minister Muhammad Aurangzeb told parliament while presenting the budget for fiscal year 2025–26 earlier this month.

PIA has been one of the government’s most costly liabilities, which has accumulated over $2.5 billion in losses in roughly a decade and been surviving on repeated bailouts that have weighed heavily on Pakistan’s strained budget.

Last month, five consortiums submitted expressions of interest for a 51–100 percent stake in PIA after the government restructured its balance sheet to make the deal more attractive. It also scrapped the sales tax on leased aircraft and is providing limited protection from legal and tax claims. Around 80 percent of the airline’s debt has been transferred to the state.

ROOSEVELT HOTEL

Separately, the CCOP approved the transaction structure for Roosevelt Hotel under a “Joint Venture model with multiple options.”

“This option is aimed at maximizing long-term value for the country, while ensuring flexibility, multiple exit opportunities, and minimizing future fiscal exposure,” the privatization commission said.

How much money the hotel ultimately brings in, and its overall valuation, depends on the type of transaction structure adopted, Privatization Commission Chairman Muhammad Ali told Arab News in an interview last month. If the government formed a joint venture with a private investor, sharing both the risks and future profits, the hotel could be worth four to five times more than its as-is valuation, he said at the time.

“So, depending on what sort of structure you have, how much risk you take, how much effort the government puts in, we can make a lot of money from this asset,” the privatization chief had said.

The Roosevelt, a 1,015-room historic hotel in Midtown Manhattan, has long been one of Pakistan’s most prominent but politically sensitive overseas assets. Acquired by Pakistan International Airlines Investment Limited (PIAIL) in 1979, the hotel occupies a full city block on Madison Avenue and 45th Street. Over the past two decades, successive Pakistani governments have floated plans to sell, lease, or redevelop the property, but no proposal has advanced beyond early-stage planning.

Operations at the Roosevelt were suspended in 2020 following steep financial losses during the COVID-19 pandemic. In 2023, Pakistan entered a short-term lease with the City of New York to use the property as a temporary shelter for asylum seekers, generating more than $220 million in projected rental income. That agreement ended in 2024 and no new revenue stream has since been announced.

The Roosevelt Hotel is one of several state assets the government hopes will contribute to its target of raising Rs86 billion ($306 million) in privatization proceeds during the fiscal year starting July 1, alongside the sale of PIA and three electricity distribution companies.