The federal government is planning to hand over control of its national carrier, Pakistan International Airlines Corporation, to the Arif Habib Group-led consortium by the end of this month, according to Privatization Adviser Muhammad Ali, reported Bloomberg.
Muhammad Ali said the government is targeting the end of April for handing over management control of the airline and is working to meet all required conditions. However, he added that the timeline could be pushed back by one to two weeks because of the ongoing US-Iran conflict and its wider impact.
The Arif Habib-led consortium had secured a 75 percent stake in PIA for Rs. 135 billion in December, marking one of Pakistan’s most significant privatization deals in recent years.
The consortium includes leading business groups such as Arif Habib Group, Fatima Fertilizer Company Limited, Fauji Fertilizer Company Limited, and AKD Group.
PIA has struggled for years with operational inefficiencies, an aging fleet, recurring losses, and political interference, making privatization a major structural reform priority.
Muhammad Ali also said the government is awaiting an offer from the consortium regarding the possible purchase of the remaining 25 percent stake still held by the state.
Separately, the Privatisation Commission of Pakistan is also preparing to invite bids this month for the sale of stakes in major power distribution companies, including Gujranwala Electric Power Company and Islamabad Electric Supply Company.