Historic Milestone: PM Shehbaz Sharif Signs Rs 180 Billion PIA Privatisation Deal with Arif Habib Consortium. -

In a historic turning point for Pakistan’s aviation industry, Prime Minister Shehbaz Sharif oversaw the official signing of the Rs 180 billion privatisation deal for Pakistan International Airlines (PIA) on Thursday, January 29, 2026. Entrusting the national carrier to the Arif Habib Consortium, the Prime Minister highlighted the live-broadcast ceremony as a transparent milestone aimed at restoring the airline to its 1960s “golden era” glory.

Key Details of the Mega-Deal:

The Investment: The transaction involves a total investment of Rs 180 billion (approx. $650 million), with Rs 125–135 billion dedicated to PIA’s development and fleet modernization.
National Exchequer Gain: A sum of Rs 55 billion ($200m) will be injected directly into the government treasury to bolster fiscal stability.
Consortium Leadership: The Arif Habib-led group, which includes local entrepreneurs from Fatima Fertilizer and Lake City, won the auction for 75% shares after a competitive process.
Transition Timeline: The new management is expected to take full operational control of PIA within three months, with immediate plans to engage with Boeing and Airbus for new aircraft.

Strategic Vision for the Future: The transition marks a shift from state management to private sector efficiency, prioritizing passenger safety, punctuality, and global competitiveness. PM Shehbaz Sharif urged the new administration to ensure that “passengers’ comfort, respect, and dignity” remain the top priorities as the airline moves toward economic sustainability.