Fauji Fertilizer Company has joined the Arif Habib consortium in Pakistan International Airlines’ (PIA) privatization, adding financial and corporate expertise. The consortium confirmed the partnership will support the airline’s operations and management, enhancing its efficiency and modernization efforts.
The Arif Habib consortium secured 75 percent of PIA’s shares with the highest bid of PKR 135 billion, while Lucky Consortium placed the second-highest bid of PKR 134 billion. The deal gives the consortium significant control over the airline’s strategic and operational decisions.
Under the agreement, Fauji Fertilizer will participate in the consortium’s management structure, contributing to corporate governance and operational upgrades. An initial investment of PKR 125 billion is planned in the first year to modernize ground operations and enhance service quality.
The privatization move aims to improve PIA’s financial health, operational efficiency, and global competitiveness. The partnership between Arif Habib and Fauji Fertilizer is expected to bring professional management practices and strategic investment to the national airline.
Read more: Arif Habib Group acquires PIA for PKR 135 billion
The acquisition marks a major milestone in Pakistan’s efforts to privatize state-owned enterprises. Industry experts say this step may strengthen PIA’s market position, attract further investment, and modernize its infrastructure.