PIA privatisation process concludes with signing of transaction documents
FI
Home Hopes for return of airline's former glory; Arif Habib says people will be foremost beneficiaries The privatisation process of Pakistan International Airlines concluded on Thursday with the signing of transaction documents between the goverment and the Arif Habib Consortium as Prime Minister Shehbaz Sharif hailed the transparency of the entire endeavour. The government sold its 75% stakes in PIA last month for Rs10.1 billion cash to the consortium, marking the completion of the first major privatisation transaction in two decades by offloading the white elephant. The consortium of Pakistan's renowned businesspersons placed the highest bid of Rs135b for the 75% shares in the 13th round of open auction. It beat another cash-rich consortium led Muhammad Ali Tabba. The ceremony to sign the shareholders, the share purchase and subscription agreement was held in Islamabad today with PM Shehbaz and Chief of Defence Forces and Chief of the Army Staff Field Marshal Syed Asim Munir also attending.
Published: January 29, 2026 2:42 pm
Source: The Express Tribune — Read original