PM Shehbaz felicitates Pakistani nation as PIA soars into Privatization Era
2026-01-29 - 14:11
ISLAMABAD – Prime Minister Shehbaz Sharif congratulated nation as Pakistan International Airlines (PIA) officially entered the private sector. The historic signing ceremony, held in Islamabad, saw PM Shehbaz alongside Chief of Defence Staff Field Marshal Asim Munir witness the finalization of the deal, attended by several federal ministers. Arif Habib Corporation-led consortium emerged victorious in the December auction, securing 75% of PIA’s shares with a winning bid of Rs135 billion. PM Shehbaz lauded Habib and his team as “committed business ambassadors of Pakistan” and expressed confidence that they would restore PIA to its former glory, recalling its peak during the 1960s. Passenger safety, comfort, and dignity are top priorities, he noted. Privatisation adviser Muhammad Ali called deal “the largest in Pakistan’s history” and praised the transparent, competitive process. The total investment from the consortium amounts to Rs180 billion ($650 million), including Rs125 billion ($450 million) for PIA’s growth and Rs55 billion ($200 million) to the government. The funds will be used for fleet expansion, service improvements, and professional private-sector management. Arif Habib, addressing the nation, said privitisation shows strong confidence in Pakistan’s business climate. He highlighted ongoing discussions with Boeing and Airbus and assured that full control of PIA would transfer to the consortium within three months. “We are doing this for our respect and for the nation,” Habib stated, framing the consortium’s efforts as a patriotic mission akin to that of soldiers. With this historic transaction, PIA’s privatisation sets a new benchmark for Pakistan’s economic growth, local investment confidence, and ambitious vision for national airlines. The people of Pakistan stand to benefit first-hand from enhanced services, modernized fleets, and renewed pride in their national carrier. Reimagining the future of PIA A strategic privatization approach