On 29 January 2026, the Government of Pakistan formally completed the privatisation of Pakistan International Airlines (PIA) when key documents were signed and exchanged between the government and the Arif Habib Consortium in Islamabad. This event marked a historic milestone in the revival of the national flag carrier and was attended by top government and military officials.
Ceremony Attended by Top Leaders and Arif Habib
The signing ceremony was witnessed by Prime Minister Muhammad Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, Chief of Army Staff Field Marshal Syed Asim Munir, and several federal ministers. Arif Habib himself was personally present at the event representing the consortium. His presence highlighted his active role in the acquisition and his commitment to managing PIA after the privatisation.
Document Exchange and Agreements
During the ceremony, the shareholders agreement and the share purchase and subscription agreement were signed. Defence Secretary Lt Gen (retd) Muhammad Ali signed on behalf of the government while Arif Habib signed on behalf of the consortium. The documents were then officially exchanged in front of all attendees, finalising the transfer of the majority 75 % stake in PIA to the private consortium.
Arif Habib Role and Vision
Arif Habib, a leading businessman and chairman of his group, will now lead the operations of PIA under the consortium. He is expected to bring private sector management expertise, fresh investment, and operational reforms to the airline. His active involvement in the ceremony reflects the consortium’s hands-on approach and focus on reviving PIA from years of losses and inefficiencies.
Government Perspective and Expectations
Prime Minister Shehbaz Sharif welcomed the consortium and said that the privatisation is a major step toward reviving the national carrier. He expressed confidence that under the leadership of Arif Habib, PIA will improve service quality, fleet efficiency, punctuality, and overall passenger experience, contributing to the aviation sector’s growth.
Significance and Future Impact
The privatisation of PIA under the Arif Habib Consortium is considered a landmark economic reform in Pakistan. The consortium is expected to modernise the airline, increase operational efficiency, and ensure financial sustainability, reducing the burden on government resources. Arif Habib’s direct participation signals strong commitment from the private sector to transform PIA into a profitable and modern airline.
