As nobody answered my question and I have figured it out myself, for anyone wanting the answer also there is no remedy to this situation as this particular 1993 318is does not have a shift interlock cable on the shifter side, but seems to have it's steering column replaced from a car with the interlock function, therefore it needs to be screwed into the column in order for the key to come out, the other end with the eyelet dangles in mid air...