Fauji Fertilizer Company Limited (FFC) has announced that its Board of Directors has approved the company’s participation in the consortium declared as the highest-ranked bidder for the privatization of Pakistan International Airlines Corporation Limited (PIACL).
According to a disclosure sent to the Pakistan Stock Exchange (PSX) on December 24, 2025, FFC will join a consortium led by Arif Habib Corporation Limited, which also includes Fatima Fertilizer Company Limited, The Lake City Holdings (Private) Limited, AKD Group Holdings (Private) Limited, and City Schools (Private) Limited.
The Arif Habib consortium on Tuesday secured a 75 percent stake in PIAC with a winning bid of Rs. 135 billion, following an open auction round that marks Pakistan’s first major privatization in nearly twenty years.
The consortium was declared the top bidder by the Privatization Commission (PC) following the bidding process held on December 23. The federal government will receive Rs. 10.2 billion of the money while the rest will be used on PIA. Moreover, the government is expected to save Rs. 35 billion in taxpayer money every year.
FFC’s Board has authorized the company to finalize and execute all necessary agreements with the consortium and relevant parties, paving the way for FFC to acquire or subscribe to shares in PIACL, either directly or through a special purpose vehicle.
The company clarified that the completion of the transaction is still subject to several conditions, including the issuance of a Letter of Acceptance by the Privatisation Commission, execution of definitive agreements, and fulfillment of all required corporate and regulatory approvals.
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Arif Habib Sb, please don’t take it in otherwise after some time, FFC will be the owner and you would be released.
“Govt. is to govern, not to do business.”, that is the take of Govt. on selling/privatizing PIA and here we are, Fauji being Fauji, doing all the work. I should have seen this coming.. I am still naive Pakistani.
Fauji foundation is a foundation of one government institute. How come it is a full privatization when it will be partly owned by a foundation setup for Fauj?. If PIA will face issues in future then government will bail Fauji foundation or not?. These questions should be answered.
O aaye luteray aaye
Arif Habib is only a front man. FFC withdrew from Bid to avoid people hunting at involvement of Army related institution. The bid approved is a peanut if seen in all aspects of PIA abd its business. Allah shall save Pakistan.
Starts daily flights to Toronto please with new jets
City School? Just imagine how much money educational institution are making from public.
As of September 30, 2025, Fauji Fertilizer Company (FFC) reported current income taxes payable of PKR 14.886 billion on its balance sheet. It is reportedly involved in litigation over super tax liability and non payment of
Gas Infrastructure Development Cess (GIDC): As of March 31, 2023, FFC had a GIDC payable liability of PKR 7.558 billion. How can a company with such massive tax non compliance be part of public auction or even be clear to do so???
Joke of a privatisation by looter govt and boots will fly PIA.
This is the real story..
The entire country is under Fauj, people like Arif Habib are just their front Man..
Pakistan ka ALLAH hi Hafiz