Karachi: Businessman Arif Habib has clarified 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 the national carrier after winning the privatisation bid with an offer of Rs135 billion.
While the consortium has shown interest in acquiring full ownership of PIA, Arif Habib stated on a programme that the focus so far has been on finalising the bid strategy and developing a comprehensive business plan. As part of this process, consultations with international advisors are being held to explore measures to revive and strengthen the airline’s operations.
He added that the consortium has a 90-day period to thoroughly review all aspects before making a final decision on acquiring the remaining 25% stake. Earlier reports suggested that the group could complete the purchase within this timeframe, which would make PIA a fully private entity. The sale of the final 25% share is expected to generate an additional Rs45 billion in revenue for the government.
