ISLAMABAD: Prime Minister Shehbaz Sharif expressed optimism on Thursday that Pakistan International Airlines (PIA) will reach new heights under the leadership of the Arif Habib Consortium, the airline’s new owners.
The prime minister’s statement follows the signing of pivotal transaction documents between the government and the Arif Habib Consortium concerning the recent privatisation of PIA.
Speaking at the event, Sharif stated that PIA’s performance, punctuality, cabin service, and overall professional standards were set to undergo dramatic improvements.
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“This deal represents a significant step towards the restructuring of the national carrier, which has faced difficulties in recent years,” he remarked.
The prime minister extended his congratulations to the nation, calling the agreement a major milestone in the airline’s privatisation process.
He also praised the contribution of Arif Habib and his team, describing them as “business ambassadors” whose efforts had greatly benefited the nation’s progress.
“The new owners’ top priority will be to ensure a safe and comfortable journey for passengers,” Sharif added, stressing the importance of restoring PIA’s former reputation.
He recalled that, in the 1960s, PIA was one of the world’s most renowned airlines, celebrated for its exceptional service and global reach.
Sharif also acknowledged the efforts of federal ministers, including Advisor for Privatisation Muhammad Ali, as well as military leaders, particularly Chief of Defence Forces (CDF) and Field Marshal Syed Asim Munir, for their dedication to the national interest and their oversight of the successful completion of the privatisation process.
The prime minister reiterated that the process had been carried out with full transparency, with details of the transaction broadcast live to the public. He stated that the bidding had been closed at a price of Rs180 billion, out of which the Arif Habib Consortium would invest Rs135 billion towards the improvement of PIA’s operations, while the government would receive Rs55 billion.
In his remarks, Sharif expressed his confidence that the new owners, through innovation and sustained effort, would restore PIA to its former glory. He noted that the nation was eager for improved travel services, with high hopes that the airline would once again bring the name of Pakistan to greater prominence on the world stage.
Among those in attendance at the ceremony were Deputy Prime Minister and Foreign Minister Ishaq Dar, CDF Syed Asim Munir, and other senior government officials. Advisor for Privatisation, Muhammad Ali, provided further details of the privatisation plan, assuring the public that the restructuring would ultimately benefit the people of Pakistan through enhanced PIA services.
Copyright Business Recorder, 2026
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