Pakistan's Ailing PIA Sold for PKR 135 Billion; Buyer Has Strong India Connection

• Pakistan International Airlines (PIA) was auctioned for 135 billion Pakistani rupees due to the country's economic collapse.
• The state-owned airline was acquired by a consortium led by the Arif Habib Group in a successful privatization process.
• Arif Habib Group emerged as the highest bidder, surpassing Lucky Cement and Airblue in a transparent auction.
• A significant 92.5% of the sale proceeds from the 75% stake will be reinvested in PIA, with 7.5% going to the government.
• Arif Habib, the group's founder, has family roots in Bantva, Junagadh district, Gujarat, India, having moved to Karachi after the 1947 partition.

Why It Matters: Pakistan's PIA sold to Arif Habib Group, whose founder has strong family ties to India's Gujarat.