Cabinet approves Arif Habib consortium's Rs135b bid for PIA’s 75% shares
Rs135bn offer exceeds govt’s reference price of Rs100bn as cabinet completes process: Privatisation committee has already given approval of bid
The federal cabinet has approved the Rs135 billion bid submitted by the Arif Habib consortium for the acquisition of 75 percent of Pakistan International Airlines’ (PIA) shares, marking the completion of all stages of the national carrier’s privatisation process.
Official sources said the approval was granted after the cabinet endorsed the decision taken earlier by the Cabinet Committee on Privatisation.
According to the 24NewsHD TV channel, the federal cabinet ratified the privatisation committee’s earlier approval, which followed a recommendation by the Privatisation Commission Board in favour of the consortium.
The bidding ceremony, held last month, saw the Arif Habib consortium emerge as the highest and successful bidder, offering Rs135 billion against the government’s reference price of Rs100 billion for the airline.
The latest approval comes on the heels of a December 30, 2025, meeting of the Cabinet Committee on Privatisation, chaired by Deputy Prime Minister Ishaq Dar, where the same bid was cleared.
During the meeting, the secretary of the Privatisation Ministry briefed the committee on the post-bidding roadmap for PIA’s transfer and restructuring.
The committee had recommended forwarding the matter to the federal cabinet for final clearance.
Dar directed all concerned institutions to ensure that the process was conducted in a transparent and timely manner.
He also expressed hope that the successful transaction would enable PIA to “return to its golden era” after years of financial strain and operational decline.
Reporter: Awais Kiyani