The Cabinet Committee on Privatisation (CCoP) recommended approving a Rs135 billion bid for 75 percent shares of PIA. The consortium is led by the Arif Habib Group. The committee, chaired by Deputy PM Ishaq Dar, urged the cabinet to approve the deal promptly.
The Arif Habib-led consortium submitted a top bid 35 percent above the government’s reference price. They also committed to investing an additional Rs80 billion over five years. The move aims to revitalise Pakistan International Airlines and restore its former prestige.
Read more: PIA privatisation to create jobs, not cut staff, says Arif Habib
The meeting included senior officials, federal secretaries, and advisors on privatisation, industry, defence, and power. The Ministry of Privatisation provided a detailed briefing on the next steps. Deputy PM Dar stressed the need for timely action to finalise the process.
Deputy Prime Minister/ Foreign Minister Senator Mohammad Ishaq Dar @MIshaqDar50 chaired a meeting of Cabinet Committee on Privatization (CCoP).
The Secretary, Ministry of Privatization provided a detailed briefing on future course of action of PIACL’s Privatization.
CCoP… pic.twitter.com/yV16O77vhA
— Office of the Deputy Prime Minister (@DPM_PK) December 30, 2025
Meanwhile, the Pakistan International Airlines Retired Employees Association (PIAREA) welcomed the privatisation assurances. Retired employees will continue receiving pensions, medical facilities, and concessional travel tickets. They acknowledged support from the Prime Minister, Privatisation Commission chairman, and PIAHCL officials.
Read more: PIA to be run by new owners from April subject to approvals
Participants at PIAREA’s 16th annual gathering described the assurances as crucial for safeguarding employee welfare. The association thanked the government for ensuring the continuity of benefits after privatisation. The decision is seen as a major step for both PIA’s future and retired staff security.