Prime Minister Shehbaz Sharif on Wednesday expressed hope that Pakistan International Airlines will reach new heights under its new management, the Arif Habib Consortium.
His remarks came after the signing of key agreement documents related to the recent privatization of PIA between the government and the Arif Habib Consortium. Addressing the ceremony, the Prime Minister said that PIA’s performance, punctuality, cabin services, and overall professional standards would see marked improvement. He described the agreement as a major step toward the restructuring of the national airline, which has faced serious challenges over the past several years, and congratulated the entire nation on what he termed a major milestone in the privatization process.
The Prime Minister praised Arif Habib and his team, calling them business ambassadors whose efforts have contributed to national development. He said the new owners’ top priority must be to ensure safe and comfortable travel for passengers in order to restore PIA’s lost prestige. He recalled that in the 1960s, PIA was counted among the world’s leading airlines, renowned for its high-quality services and global reach.
Shehbaz Sharif also appreciated the role of federal ministers, particularly Adviser on Privatization Muhammad Ali, as well as the military leadership. He specifically mentioned the Chief of Defence Forces and Field Marshal Syed Asim Munir for their role in safeguarding national interests and providing oversight for the successful completion of the privatization process.
Reiterating his commitment to transparency, the Prime Minister said the privatization process was carried out in a fully transparent manner and that transaction details were shared directly with the public. According to him, the bidding process concluded at Rs180 billion, of which the Arif Habib Consortium will invest Rs135 billion in improving PIA, while the government will receive Rs55 billion.
In his concluding remarks, the Prime Minister expressed confidence that the new owners, through innovation and sustained effort, would restore PIA to its former glory. He said the nation looks forward to better travel facilities and hopes that the national airline will once again raise Pakistan’s profile on the global stage. The ceremony was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Field Marshal Syed Asim Munir, and other senior officials, while Adviser on Privatization Muhammad Ali briefed participants on further details of the plan.
