Pakistan Sells Loss-Making PIA to Arif Habib Group for Rs 135 Billion in Historic Deal

• Pakistan successfully privatized its national flag-carrier, Pakistan International Airlines (PIA), selling it for Rs 135 billion.
• A consortium led by local investment firm Arif Habib group emerged as the highest bidder in a transparent open auction process.
• The sale involved an initial 75% stake, with 92.5% of proceeds going to PIA for reinvestment and the investor committing Rs 80 billion over five years.
• The government had previously absorbed PIA's Rs 654 billion liabilities, and Prime Minister Shehbaz Sharif hailed the deal as the "largest transaction" in Pakistan's history.
• This marks the second privatization attempt for PIA, which declined from a leading airline due to mismanagement.

Why It Matters: Pakistan completes historic Rs 135 billion PIA privatization to Arif Habib group after years of losses.