PIA Privatization: Fauji Fertilizer Company Joins Arif Habib Consortium

Lahore: Fauji Fertilizer Company has joined the Arif Habib Consortium in connection with the privatization of the national airline.

A statement issued by the consortium confirmed the joining of the Fauji Fertilizer Company in the Arif Habib Consortium on the privatization of the national airline.

The announcement said that this partnership will be part of the airline’s financial support and corporate expertise. The consortium acquired 75% of the shares from the highest bid of Rs 135 billion.

According to the announcement, Fauji Fertilizer will share the administrative structure with the Arif Habib Consortium, and an investment of Rs. 125 billion will be made in the first year on ground operations upgradation.

It should be noted that in the privatization of PIA, the Arif Habib Consortium placed the highest bid of 135 billion and purchased 75 percent of the shares of the national airline, while the Lucky Consortium placed the second bid of 134 billion.