Karachi: The Arif Habib-led consortium has announced its intention to acquire the remaining 25 percent stake in Pakistan International Airlines (PIA) currently held by the government, a move that would effectively complete the privatization of the national carrier and transfer full ownership to the private sector.
Shahid Ali Habib, Chief Executive Officer of Arif Habib Limited, stated that once 100 percent of the shares are acquired, PIA will operate entirely as a private entity, allowing management, financial, and operational decisions to be taken independently without government-appointed board members. He explained that the consortium has already made a principled decision to purchase the remaining stake, with a final determination expected in April, followed by payment completion within the next 12 months.
It is worth noting that in December last year, the same consortium acquired 75 percent of PIA’s shares for Rs135 billion. The government subsequently granted a 90-day window for the purchase of the remaining shares, valued at approximately Rs45 billion, with the deadline set for the end of April.
Under the agreement finalized in January, a 12-month payment structure was approved, which officials described as financially viable and strategically structured. The government’s broader objective behind privatizing PIA was to restructure the loss-making airline, expand its aircraft fleet, improve operational efficiency, and upgrade passenger services in line with international standards to make the airline profitable and competitive.
The successful consortium includes Fatima Fertilizer (34.1%), Fauji Fertilizer Company (33.9%), Lake City (16%), and The City School along with AKD Group (16%). According to Shahid Ali Habib, the improvement plan focuses on enhancing service quality, modernizing staff training, improving ticketing systems, and strengthening safety and security measures to align PIA with global aviation standards.
