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PIA Privatization Completed: Arif Habib Consortium Signs Agreement with Government
Pakistan International Airlines has been successfully privatized! The Arif Habib Consortium signs formal agreement with the government to take over 75% of PIA, aiming to revive the national carrier.
ND
by News Desk
2026-01-29
PIA Privatization Completed: Arif Habib Consortium Signs Agreement with Government

A historic step has been taken in Pakistan’s aviation sector as Pakistan International Airlines (PIA) has been successfully privatized after two decades. The government and the Arif Habib Consortium have signed a formal agreement, marking the beginning of a new chapter for the national carrier.

The development was highlighted during a meeting of the National Assembly Standing Committee on Privatization, chaired by Farooq Sattar. The Secretary of the Privatization Commission provided a detailed briefing, confirming that the Kamyab Consortium (Arif Habib Consortium) will submit its business plan to the government, while the government has already shared its framework with the consortium.

“All administrative and operational matters of PIA have now been transferred to the Civil Aviation Authority, while the Securities and Exchange Commission has cleared the consortium for the takeover,” the Secretary said. He emphasized that this privatization is a major achievement after 20 years of stalled efforts.

Committee Chairman Farooq Sattar noted the significance of the move, stating that earlier attempts were merely “pitchakari,” but now PIA’s privatization has been successfully completed. He stressed that the Privatization Commission must monitor the process to ensure that all conditions agreed upon with the consortium are implemented fully to protect national interests.

A ceremonial signing of the privatization documents was held with Prime Minister Shehbaz Sharif and Chief of Defense Staff Field Marshal Asim Munir in attendance. Addressing the event, the Prime Minister praised the transparency of the privatization process and expressed confidence in Arif Habib and his team to restore PIA to its former glory.

It is noteworthy that the Arif Habib Consortium had won the bid in December last year to acquire 75% of PIA’s shares for Rs 135 billion. With the formal agreement now signed, the consortium is preparing a new business plan for the airline, signaling a potential revival of the national carrier once renowned for its excellence during the 1960s.

The Standing Committee has committed to close monitoring of the process, ensuring transparency and adherence to agreed conditions, while government officials and the consortium move forward with implementing the privatization plan.
Tagged:

PIA

PakistanEconomy

Privatization

ArifHabib
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