Arif Habib Issues First Major Statement After Winning PIA Privatization Bid
**Islamabad (Qudrat Daily):**
Following the successful privatization of Pakistan International Airlines (PIA), the Arif Habib Consortium has emerged as the winning bidder, acquiring a 75 percent stake in the national carrier.
Speaking to the media after the successful bid, Arif Habib Group Chairman Arif Habib termed the development a “victory for Pakistan.” He praised PIA’s workforce, describing its employees as capable, hardworking, and experienced, and said their skills would be fully utilized in the airline’s revival.
Arif Habib stated that PIA currently has a fleet of around 18 to 19 aircraft, out of which 13 to 14 are operational. He said that in the first phase, the fleet size would be increased to 38 aircraft, followed by an expansion to 65 planes. Further additions, he added, would be made in line with passenger demand and operational requirements.
He emphasized that employees would be given confidence and job security, and their professional expertise would be maximized. According to him, the expansion of the airline would also create new employment opportunities, benefiting not only PIA but the overall economy.
Meanwhile, Fauji Fertilizer Company has decided to join the Arif Habib Consortium in the PIA privatization process. Welcoming the development, Arif Habib said the consortium plans to invest Rs125 billion in the airline within one year. He reiterated that the goal is to provide a stable and improved platform for employees and to expand the fleet from 18 aircraft to around 62. Improving passenger services, he said, would remain the consortium’s top priority.
It is noteworthy that the Arif Habib Consortium secured the deal by placing the highest bid of Rs135 billion in the 12th round, narrowly surpassing the Lucky Consortium’s final bid of Rs134 billion. The consortium acquired 75 percent of PIA’s shares for Rs135 billion.
The PIA auction process was successfully concluded today. In the morning, sealed bids submitted by three consortia were opened publicly, and the entire process was broadcast live on television. In the initial phase of privatization, the Arif Habib Group had submitted a bid of Rs115 billion, while the Lucky Group bid Rs101.5 billion and Airblue offered Rs26.5 billion. The government had set a reference price of Rs100 billion for PIA’s privatization.
