No Final Decision Yet on Buying PIA’s Remaining 25% Shares: Arif Habib

Businessman Arif Habib has stated that no final decision has been made regarding the purchase of the remaining 25% shares of Pakistan International Airlines (PIA).

The Arif Habib Consortium had previously acquired a 75% stake in PIA after winning the privatisation bid with an offer of Rs135 billion. While the consortium has shown interest in acquiring the remaining shares, Arif Habib clarified during an  programme that a decision on 100% ownership of the national carrier is still pending.

He explained that the consortium is currently focused on finalising its bid strategy and preparing a comprehensive business plan. “Based on this plan, consultations have been held with international advisors on measures to revive the airline,” he added.

Arif Habib further stated, “We now have a 90-day time period. During this time, we will carefully review all aspects and then make a final decision on whether to acquire 100% ownership of PIA or not.”

Earlier reports suggested that the group was set to purchase the remaining 25% stake within the next three months. Completion of this transaction would make PIA a fully private entity and is expected to generate an additional Rs45 billion in revenue for the government.