Chairman of Arif Habib Consortium Group Arif Habib announced on Monday that no employee of Pakistan International Airlines (PIA) will be terminated for one year, reported 24NewsHD TV channel.
The renowned businessman also outlined his roadmap for reviving PIA, informing that the airline’s entire fleet of 34 aircraft would be serviceable by September 2026. Currently, only 17 of PIA’s aircraft are operational, he added. He said that PIA’s fleet will reach 38 aircraft.
His consortium, which completed the acquisition of a 75percent stake in PIA for Rs 135 billion ($482 million), will assume control in April 2026 and immediately begin implementing a comprehensive turnaround strategy.
Arif Habib said that the majority of PIA’s assets have already been transferred to Arif Habib Holding Company, and 25 percent shares belong to Fauji Fertilizer, and Arif Habib and Fatima Fertilizer have ownership of 25 percent shares.
He said that a special cargo plan has been finalized to provide the best cargo facilities to the passengers.
Arif Habib eyes Pakistan’s blue economy after PIA acquisition
Business tycoon Arif Habib has set his sights on Pakistan’s blue economy and the National Shipping Corporation (PNSC), signalling an intent to tap the country’s underdeveloped maritime potential.
Speaking to journalists at Naya Nazimabad Gymkhana Karachi, Arif Habib that the new PNSC management has invited him for discussions about the future corporation.
The sustainable commercial utilisation of ocean resources is a largely untapped frontier for Pakistan, with an estimated potential of over USD100 billion. Currently, the sector contributes less than 0.5 percent to the national GDP.
On the other hand, there are reports that PNSC has planned to grow its fleet from the current 10 vessels to 54 ships by 2030 to grab the major chunk of an estimated USD6 billion annually, being paid as foreign freight charges to international shipping lines.
Reporter: Ashraf Khan