PIA Bidding Live: Arif Habib Consortium Emerges as Top Bidder To Buy The National Airline

Pakistan International Airlines (PIA) privatization hit a big milestone in Islamabad today. The Arif Habib Consortium was the first to win the race with an enormous PKR 115 billion bids. This step is an indicator of a major turnaround to the national carrier since the government is trying to reclaim its previous glory and performance standards.

In the premium PIA bidding live session in Islamabad, the Arif Habib Consortium had surpassed its principal competitors. The PKR 115 billion offered by the group was enough to make it the highest bidder during this crucial second round in privatization.

Massive Offers Mark PIA Bidding Live Event

Investors gathered to see the future of the airline take shape. The Lucky Consortium followed with a strong bid exceeding PKR 101.5 billion. Meanwhile, Airblue placed a bid of PKR 26.5 billion. Privatization Commission Chairman Muhammad Ali confirmed that the process aims to bring much-needed investment into Pakistan.

The government is offloading 75 percent of PIA shares today. Officials plan to finalize the remaining 25 percent within the next 90 days. The state wants to see the airline return to its previous international standards.

The economy of the country would be stabilized by the successful sale of PIA. The government expects to reduce losses and enhance the quality of services by initiating the entry of the private management. Arif Habib Group is currently at the groundbreaker of this change.