Govt set to hand over PIA to new owners by month-end

The government is set to hand over Pakistan International Airlines (PIA) to its new owners by the end of the current month, as all remaining codal formalities and documentation have been completed. This was revealed by Prime Minister’s Adviser on Privatisation, Muhammad Ali, in an interview with Business Recorder. PIA was sold in December 2025 to a consortium led by Karachi-based Arif Habib Corporation, which acquired a 75 percent majority stake for Rs135 billion (approximately USD482 million) through a televised auction. Subsequently, Fauji Fertiliser Company (FFC) joined the investor group. The transaction includes Rs10 billion for government equity and Rs125 billion in committed capital for debt reduction and fleet modernisation. Responding to a question, Muhammad Ali said there is no hurdle in handing over the airline to the buyers, although certain issues had to be resolved between the bidding and closing stages of the transaction.