Pakistan Sells Ailing PIA to Arif Habib Group for PKR 135 Billion Amid IMF Pressure

• Pakistan's state-owned PIA was auctioned off for PKR 135 billion (13,500 crore rupees) to Arif Habib Group, marking the country's largest privatization in two decades.
• The sale was driven by Pakistan's severe economic crisis, mounting losses, and strict conditions imposed by the International Monetary Fund (IMF).
• The two-phase open auction, broadcast live for transparency, saw Arif Habib Group outbid Lucky Cement and Airblue.
• 75% of PIA's shares were sold, with an option for the remaining 25% within 90 days, aiming to ensure a fair price and attract new investment.
• The government hopes privatization will restore PIA's prestige, expand its fleet, and boost confidence among foreign investors.

Why It Matters: Pakistan privatizes its national airline PIA, selling 75% stake to Arif Habib Group for PKR 135 billion.