Who Is Arif Habib, The Buyer of PIA?

The privatization of Pakistan International Airlines (PIA) has been completed, with the Arif Habib Consortium emerging as the successful bidder. The consortium has acquired a 75% stake in the national airline for a record PKR 135 billion, the highest bid in the process.Bidding Process OverviewThe final decision was made during the Privatization Commission Board’s meeting, where a competitive bidding war unfolded:Initial Round: The Arif Habib Consortium led with a bid of PKR 115 billion, followed by the Lucky Consortium (PKR 101.5 billion) and the Airblue Group (PKR 26.5 billion).Second Round: Bidding intensified. The Lucky Consortium raised its offer to PKR 120.25 billion, but the Arif Habib Consortium countered with PKR 121 billion.Final Round: In the last stage, the Lucky Consortium increased its bid to PKR 134 billion. However, falling short by PKR 1 billion from the winning bid, the Arif Habib Consortium secured the deal with its final offer of PKR 135 billion.Terms of the Agreement & Future RoadmapThe agreement sets a clear path for PIA’s revitalization:Stake Acquisition: The government has sold a 75% share. The successful bidder will have a 90-day option to purchase the remaining 25% stake.Investment Commitment: The new investor is mandated to inject a minimum of PKR 80 billion into PIA over the next five years to ensure its financial stabilization and modernization.Liabilities & Employee Protections: The government had previously assumed PIA’s debt of approximately PKR 654 billion last year. Employee job security is guaranteed for one year, while pension and retirement benefits will be managed by a holding company.About the Arif Habib GroupThe Arif Habib Group is one of Pakistan’s largest and most prominent investment and business conglomerates. With diversified interests spanning financial services, stock brokerage, industrial investment, and insurance, the group plays a significant role in the national economy. Led by Arif Habib, the group’s strategy focuses not only on financial returns but also on fostering business growth, industrial stability, and job creation in Pakistan.