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PIA Fully Sold to Private Consortium

According to Shahid Ali Habib, CEO of Arif Habib Limited, the consortium has finalized its plan to purchase the government’s remaining shares. Speaking to a British media outlet, he stated that a formal decision is expected in April, with payment to be completed within 12 months thereafter.
Following the acquisition of 100% shares, PIA will operate entirely as a private entity. This means the airline will be free from government-appointed board members and state control, enabling it to function independently under private sector management.
In December last year, the Arif Habib Consortium acquired a 75% stake in PIA for Rs135 billion as part of the government’s privatization initiative. The remaining 25% shares are valued at approximately Rs45 billion. After the initial transaction, the government granted the consortium a 90-day window to exercise its option to purchase the remaining shares, with the deadline set for the end of April.
Under the agreement finalized in January, the consortium has a 12-month period to complete the financial transfer, making the deal financially viable and structured for smooth execution.
The government launched the privatization process to restructure the loss-making airline, expand its aircraft fleet, improve operational efficiency, and enhance passenger services. Full privatization is expected to accelerate reforms, modernize the airline’s infrastructure, and position PIA for long-term profitability in the competitive aviation market.