The government is preparing to transfer management control of Pakistan International Airlines Corporation (PIA) to an Arif Habib Group-led consortium by the end of this month, according to Privatization Adviser Muhammad Ali, as reported by Bloomberg.
Muhammad Ali said the government is targeting the end of April for the handover and is working to complete all necessary conditions for the transaction. However, he noted that the timeline could slip by one to two weeks due to global uncertainties, including the ongoing US-Iran tensions and their broader economic impact.
In December, the Arif Habib-led consortium secured a 75 percent stake in PIA for Rs. 135 billion, marking one of Pakistan’s most significant privatization deals in recent years.
The consortium includes major business groups such as Arif Habib Group, Fatima Fertilizer Company Limited, Fauji Fertilizer Company Limited, and AKD Group.
PIA has long faced financial and operational challenges, including persistent losses, an aging fleet, and governance issues, making its privatization a key reform priority for the government.
Muhammad Ali also confirmed that the government is awaiting a formal offer from the consortium regarding the potential purchase of the remaining 25 percent state-held stake.
Separately, the Privatisation Commission is preparing to invite bids this month for stakes in major power distribution companies, including Gujranwala Electric Power Company (GEPCO) and Islamabad Electric Supply Company (IESCO), as part of a broader privatization drive.
