The Habib Arif-led consortium, has acquired 75 per cent of Pakistan International Airlines (PIA) shares by placing a bid of Rs135 billion, following which a wave of congratulations has ensued.

Message from Khawaja Asif on X

Defence Minister Khawaja Asif said on the social media platform X (formerly Twitter) that the sale of PIA for Rs135 billion reflects growing confidence in the national economy.

He added that privatisation of business enterprises will accelerate economic revival and allow the government to escape losses amounting to thousands of billions of rupees.

Congratulating the privatisation commission, he said that today’s transaction heralds further successes in the times to come.

The Defence Minister remarked that the lifting of restrictions by Europe and the United Kingdom played a key role in making this successful transaction possible.

He further noted that while PIA previously attracted a bid of Rs10 billion, the current Rs135 billion sale is clear evidence of global confidence in Pakistan’s civil aviation regulator.

Interior Minister Mohsin Naqvi

Federal Interior Minister Mohsin Naqvi told the media that every citizen of Pakistan should feel proud. “Today, it is only Pakistan that has triumphed. The privatisation process has been completed in an extremely transparent and excellent manner. I congratulate the Prime Minister, Adviser Muhammad Ali, and the entire team,” he said.

Privatisation Adviser Muhammad Ali

Privatisation Adviser Muhammad Ali said that the bid was very good and extremely transparent. “Ninety per cent of the bidding amount, or Rs125 billion, will be invested back into PIA, enabling the airline to stand on its own feet and regain its former glory,” he added.