Pakistan Sells PIA: Arif Habib Group Buys National Airline for ₹4320 Crore |anjali

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Pakistan Sells PIA: Arif Habib Group Buys National Airline for ₹4320 Crore|anjali

Pakistan has completed one of its biggest and most historic privatization deals by selling its national airline, Pakistan International Airlines (PIA), to the Arif Habib Group-led consortium. The consortium acquired a 75% stake in PIA for approximately ₹4,320 crore (around PKR 135 billion), a price significantly higher than the government’s initial expectations.

PIA, once considered a prestigious airline in South Asia, has been struggling for years due to massive financial losses, mounting debt, mismanagement, and declining service quality. The airline had become a major burden on Pakistan’s economy, forcing the government to repeatedly bail it out using taxpayer money. To reduce this economic pressure and meet IMF-backed reform goals, the Pakistani government decided to privatize the airline.

The bidding process saw participation from several major business groups, but the Arif Habib Group emerged as the highest bidder, outpacing competitors such as Lucky Cement-backed consortiums. The strong competition pushed the final sale price well above the expected valuation, making this deal a positive outcome for the government.

Under the agreement, the Pakistani government retains a 25% stake, while operational control will now shift to the private consortium. The new owners are expected to invest in fleet modernization, route expansion, better customer service, and financial restructuring, aiming to revive PIA and make it profitable again.

Pakistan’s Prime Minister described the sale as a landmark moment in the country’s privatization history, signaling a shift toward private-sector-led economic reforms. Experts believe this move could help restore investor confidence and reduce the government’s long-term financial liabilities.

This privatization of PIA is being closely watched across South Asia, as it may set a precedent for future reforms in other loss-making state-owned enterprises in Pakistan

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