PIA’s fleet will be expanded to 60 aircraft: Arif Habib

ISLAMABAD: Renowned businessman and investor Arif Habib has said that efforts to turn around Pakistan International Airlines Corporation Limited (PIACL) are underway, with an investor consortium working to appoint a new senior management team.

He added that the airline’s fleet will be expanded to 60 aircraft over the next 10 years in a phased manner.

Arif Habib said this while responding to media queries after the conclusion of “Talk Series” organized by the Securities and Exchange Commission of Pakistan (SECP) at its Headquarters here on Thursday.

To a query on sales tax exemption to PIA under the Finance Act 2026, he expressed satisfaction over the tax relief, which, according to him, is part of the privatization process.

“After the addition of aircraft and good senior management, you will visibly see the difference in the performance of the PIACL”, Chief Executive of Arif Habib Corporation Limited added.

He clarified that the PIA’s new CEO has not been appointed.

He added that the PIACL, as a core business, is profitable and not a loss-making entity. All foreign properties of the airline are now with the holding company.

The Talk Series session was attended by Chairman SECP Dr. Kabir Ahmed Sidhu, Commissioners, senior management, officers and staff of the Commission, as well as participants from academia, the corporate sector, financial institutions, professional bodies, and other walks of life.

Habib said that the investors are facing the biggest challenge of high cost of production due to energy prices and the highest tax rates in the region. The cumulative effect of taxation comes to around 60 percent, including corporate tax and Super Tax. If the government reduces taxes and energy prices, it will encourage investment.

He pointed out that several industries are operating below their installed capacity.

He stated that the government can reduce electricity prices by Rs 15 per unit after increasing consumption by 40-50 percent and decreasing capacity charges to reduce the cost of production.

Terming agreements with the Independent Power Producers (IPPs) as very negative and disadvantageous, he said that the excessive IPP agreements were inked in 2024-2015 to deal with the issue of load shedding.

Arif Habib has expressed strong confidence in the long-term potential of Pakistan’s capital market, stating that the Pakistan Stock Exchange (PSX) has delivered an average annual return of around 22 percent in rupee terms and approximately 14 percent in US dollar terms over the years, making it one of the best-performing markets in the region over the long term.

He emphasized that Pakistan’s capital market offers significant opportunities for investors and stressed the need to create greater awareness, particularly among young people, to promote an investment culture and encourage broader participation in the capital market.

In his opening remarks, Chairman SECP Dr. Kabir Ahmed Sidhu welcomed Arif Habib and appreciated his longstanding contributions to Pakistan’s capital markets and financial sector. He noted that interactions with accomplished business leaders provide valuable insights into market dynamics, entrepreneurship, and leadership, helping bridge the gap between regulatory perspectives and industry experience.

He reaffirmed SECP’s commitment to promoting a transparent, efficient, and investor-friendly regulatory environment that supports sustainable economic growth.

During an engaging conversation moderated by Musarat Jabeen, Executive Director, Habib reflected on his professional journey, sharing the experiences, challenges, and values that shaped his career as one of Pakistan’s leading entrepreneurs and investors. He emphasized the importance of integrity, perseverance, disciplined decision-making, and continuous learning in achieving long-term success.

Discussing the evolution of Pakistan’s capital market, Habib highlighted the progress achieved through regulatory reforms, technological advancement, and stronger governance standards.

He underscored the importance of transparency, investor confidence, and sound corporate governance in strengthening the investment ecosystem.

He noted that vibrant capital markets play a critical role in mobilizing savings, financing businesses, creating employment opportunities, and supporting sustainable economic growth.

Speaking on entrepreneurship, Habib encouraged young professionals to embrace innovation, calculated risk-taking, and resilience while maintaining the highest ethical standards.

He stressed that credibility and trust remain the foundation of long-term business success and advised aspiring entrepreneurs to focus on value creation rather than short-term gains.

The discussion also covered Pakistan’s economic outlook, investment opportunities, and the evolving role of regulators in facilitating business growth while ensuring effective investor protection. Habib appreciated the reforms undertaken to strengthen Pakistan’s financial markets and emphasized the importance of continued collaboration between regulators, market participants, and the private sector to further deepen Pakistan’s capital markets.

The session concluded with an engaging question-and-answer segment, during which participants sought Habib’s views on investment strategies, entrepreneurship, leadership, financial markets, and career development. Drawing on his decades of experience, he encouraged participants to remain optimistic about Pakistan’s long-term economic prospects, pursue continuous learning, and uphold integrity and professionalism throughout their careers.

Chairman SECP thanked Arif Habib for sharing his valuable insights and experiences with participants and presented him with a commemorative shield in recognition of his contribution to the SECP Talk Series.

Copyright Business Recorder, 2026