KARACHI (HRNW): In a significant move toward the privatization of the national carrier, the Arif Habib Consortium has successfully acquired 100% of the shares of Pakistan International Airlines (PIA). According to a spokesperson for the consortium, the group has deposited the required funds to purchase the final 25% stake in the airline.
Under the terms of the agreement, a bank guarantee worth Rs. 45 billion has been submitted. The consortium, which previously held a 75% stake in the airline, exercised its contractual option to acquire the remaining 25% from the government.
Consortium Details and Transition Timeline:
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Composition: The Arif Habib Consortium is a powerful group of investors including Fauji Fertilizer Company (FFC), Lake City, and the Fatima Group.
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Key Partners: Other prominent entities within the consortium include Arif Habib Limited, The City School, and AKD Securities.
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Handover: The consortium is expected to take full operational control of PIA in May 2026.
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Government Strategy: The privatization process follows the government’s strategic decision to offer an acquisition option to the consortium to ensure a complete transition of the national flag carrier to the private sector.
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