New capital will help ‘resolve PIA’s problems,’ says Arif Habib

Terming the privatisation of Pakistan International Airlines (PIA) a “success for Pakistan”, renowned industrialist Arif Habib, the Chief Executive of Arif Habib Corporation Limited, on Tuesday said the transaction would help restore investor confidence and pave the way for fresh investment in the country. Speaking after the conclusion of the privatisation process, Habib said PIA carried a strong legacy and possessed a skilled workforce capable of supporting a turnaround under new capital injection. “PIA has enjoyed a fabulous legacy and was once ranked the second-best airline in the world. Many employees are highly competent and understand their work very well,” he said. He expressed hope that the inflow of new capital would help address the airline’s longstanding operational and financial challenges. “I hope that this new capital will help resolve the airline’s problems.”