Karachi: Business tycoon Arif Habib has confirmed that no final decision has yet been made regarding the purchase of Pakistan International Airlines (PIA) remaining shares.
The Arif Habib Consortium had previously acquired a 75% stake in PIA after winning the privatization bid with an offer of Rs135 billion. Following this, the consortium expressed interest in buying the remaining shares to gain full ownership of the national carrier.
Speaking on ARY News, Arif Habib clarified that the consortium is still reviewing strategies and developing a business plan. “We have a 90-day period to carefully evaluate all aspects before deciding whether to acquire 100% ownership of PIA,” he said.
The consortium has consulted international advisors to explore measures for reviving PIA, aiming to improve operations and financial performance. These discussions will influence the decision regarding the remaining shares.
If the consortium proceeds with purchasing the final 25% stake, PIA will become a fully private airline. The sale of these shares is expected to generate an additional Rs45 billion for the government.
Arif Habib emphasized that the consortium’s priority is ensuring a sustainable turnaround for PIA, rather than rushing the acquisition of full ownership. The decision on the remaining shares will be finalized only after thorough analysis and planning.
Industry experts note that acquiring the remaining shares of PIA would mark a significant step in the airline’s privatization, allowing the consortium to implement strategic reforms and modernize operations.
The government has welcomed the consortium’s cautious approach, emphasizing transparency and proper evaluation before selling the final portion of PIA. Citizens and investors are closely monitoring the developments, as full privatization could transform Pakistan’s national airline.
In other news read more about: After Winning Majority Stake, Arif Habib Group Looks to Take Full Control of PIA
With the 90-day review period underway, the aviation sector awaits a final decision on the remaining shares, which could reshape PIA’s future and set a precedent for future privatizations in Pakistan.
