The federal government is set to hand over full control of Pakistan International Airlines (PIA) to the Arif Habib-led consortium by the end of April 2026.
According to Privatization Adviser Muhammad Ali, the process is in its final stages. The consortium, which already owns a 75% stake in PIA, is expected to acquire the remaining 25% government shares soon. This will give the private group complete ownership and management control of the national airline.
In December 2025, the Arif Habib consortium successfully bought the 75% stake for Rs135 billion. The group includes major Pakistani business houses such as Fauji Fertilizer and Fatima Fertilizer. The total investment plan is expected to bring much-needed funds and expertise to turn around the loss-making airline.
Officials say the handover may face a slight delay of one to two weeks due to the ongoing crisis in the Middle East, which has affected some financial and operational processes. However, efforts are being made to complete all formalities by April 29, 2026.
Once the full takeover is complete, the new management plans to restructure PIA, improve operations, modernize the fleet, and enhance service quality. The government hopes this privatization will reduce the huge financial burden PIA has placed on the national budget for many years.
This move is considered one of the biggest privatization deals in Pakistan’s history. It is part of the government’s broader plan to privatize state-owned enterprises, including some power distribution companies.
