The Arif Habib-led consortium has submitted its final-day bid to acquire the remaining 25% shares of Pakistan International Airlines (PIA), marking a key development in the ongoing privatisation process.

According to details shared by businessman Arif Habib, the consortium has formally submitted a standby letter of credit and bank guarantee to the Privatisation Commission ahead of the deadline.

He confirmed that April 28 was the last date for submitting financial offers and said the consortium completed all required formalities within the stipulated timeframe.

Habib stated that the group is now positioned to proceed with the acquisition of the remaining government-held stake in the national carrier, subject to completion of regulatory requirements.

He further noted that the Privatisation Commission has been requested to secure a No Objection Certificate (NOC) from the Federal Board of Revenue (FBR) regarding PIA aircraft, which is a necessary step in finalising the transaction.

The consortium has urged authorities to expedite remaining procedural approvals so the takeover process can move forward without delay.

The development brings the long-running PIA privatisation effort closer to a potential conclusion, as the consortium moves to consolidate its stake in the airline.