Pakistan International Arlines (PIA) : News / Updates

[The Sundance Kid]

They should do the smart thing and run a fleet of ONLY A320s and A321s. That’s it.

 

[Michael]

So, when can they resume normal operations?

 

[onlinpunit]

What joke, PIA sold for 35 million. Govt got nothing , all paid money reinvested ..LOLLLLLLLLLLLL

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At least you won't lose more money!

 

[Samlee]

They need to sell the Roosevelt hotel in New York City & the scribe hotel in Paris. Sale of both assets could generate at least $2-billion and help inject cash into the Pakistani economy. There’s no reason why Pakistan still owns these hotels, especially Roosevelt hotel which is located in the most expensive area of New York and which is now even lost its status as a homeless shelter.

Just 1.5 Miles From The Roosevelt Hotel Qatar Purchased One Manhattan West For $2.9 Billion. Apart From This Scribe Hotel Is In The "Most Beautiful Avenue In The World." Champs Elliyse Avenue Of Paris.Anything Less Than $3 Billion For Just These Two Is Daylight Robbery

 

[Fatman17]

482m $ depending on the FX rate used

 

[ACE OF HEARTS]

Lucky Group made the last offer of Rs 134 Billion, which means that they have that much money to spare and invest in Pakistan.

Generally speaking, Nishat Group and large textile Mill owners / Industrialists from Punjab were missing, from the start.

 

[Meengla]

Did FM Hafiz make PIA sale possible?
If he can ruthlessly cleanse the toxic, acidic, racist system of Pakistan to some extent, it will be a great service.

Yes. Also, watch for the Local Bodies reforms to address Karachiites' concerns. PPP is not pleased but they will have to compromise there and also on the canals up north to which they objected.

Same happened with Allied Bank, look where it stands now.

Allied Bank, K-Electric, PTCL... Examples of better managed privatization. I predict the same for PIA. These Memon business groups are very business savvy.

They need to sell the Roosevelt hotel in New York City & the scribe hotel in Paris. Sale of both assets could generate at least $2-billion and help inject cash into the Pakistani economy. There’s no reason why Pakistan still owns these hotels, especially Roosevelt hotel which is located in the most expensive area of New York and which is now even lost its status as a homeless shelter.

I think Roosevelt Hotel is supposed to get turned into a high rise place in some partnership with American business groups. India would like to buy that hotel right now--just to spite Pakistan--if for nothing else.

Lucky Group made the last offer of Rs 134 Billion, which means that they have that much money to spare and invest in Pakistan.

Mr. Arif Habib is saying that more investors want to join the Consortium or business to not only greatly enlarge the PIA fleet (by leasing aircrafts) but also for other privitization efforts which are coming up.

 

[Meengla]

Predictably, PPP is not happy with the privatization of PIA and going to pursue legal challenges and even questioning Mr. Arif Habib. Won't matter though: The 'Danda' is coming on many heads.
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[Ali_Baba]

Are the The Roosevelt Hotel and the Scribe Hotel owned by PIA or the Government of Pakistan directly ?

 

[Fatman17]

Here’s a comprehensive biography of Pakistani businessman Arif Habib—one of Pakistan’s most influential market figures and corporate leaders:


Arif Habib – Biography

Early Life and Background

Muhammad Arif Habib (born 1952/1953) is a prominent Pakistani businessman, stock trader and entrepreneur. He was born in Karachi into a Memon family originally from Bantva, Gujarat. After the 1947 partition, his family migrated to Pakistan, leaving their businesses behind. Arif Habib was the youngest of nine siblings and completed formal education up to matriculation (10th grade) but did not attend university. 

Career Beginnings

Arif Habib’s career started in 1970 at the Karachi Stock Exchange (KSE) when he was just 17 years old. He began as a stockbroker working for his elder brother, who had bought a trading licence. His initial salary was 60 rupees per month. Working directly on the trading floor, he developed deep expertise in analysing shares and markets—skills that later shaped his entire career. 



Rise in the Pakistani Financial Markets

Arif Habib quickly became a prominent figure in Pakistan’s financial sector:
• He was elected President of the Karachi Stock Exchange in 1992, and went on to serve in that role six times. During his leadership, he modernised and computerised trading systems at the exchange. 
• In 1998, during a market downturn triggered by regional tensions and nuclear tests, he boldly acquired stocks at low prices, a move that paid off handsomely when markets rebounded. 
• He was a founding member of the Central Depository Company, which streamlined securities settlement in Pakistan’s markets. 



Founding the Arif Habib Group

In 2000, Arif Habib founded what would become one of Pakistan’s most diversified corporate empires—the Arif Habib Group. Initially focused on securities brokerage and asset management, the group expanded across sectors including:
• Financial services
• Fertilizers and chemicals
• Steel and cement
• Energy
• Real estate
…through subsidiaries such as Arif Habib Limited, Aisha Steel Mills, Fatima Fertilizer Company, Power Cement, and Javedan Corporation. 

The group emphasises corporate governance, risk management, and innovation, aiming to contribute positively to Pakistan’s economy. 



Business Strategy and Notable Moves

Arif Habib built his reputation on strategic market timing, especially during periods of financial stress:
• He made significant investments after market declines, reinforcing confidence among investors and helping stabilise markets. 
• As Pakistan underwent privatisation of state-owned industries, he acquired stakes in various sectors, expanding his group’s reach. 



Major Role in PIA Privatisation (2025)

In December 2025, a consortium led by Arif Habib’s investment group secured the winning bid to acquire a 75% stake in Pakistan International Airlines (PIA)—one of the largest privatisation deals in Pakistan’s history. The bid was valued at approximately Rs. 135 billion (~$482 million), marking a key milestone in his business career and Pakistan’s economic reforms. 



Leadership, Public Service & Influence

Beyond business operations, Arif Habib has played numerous institutional and advisory roles:
• He served on bodies such as the Privatisation Commission, Board of Investment, and Securities & Exchange Ordinance Review Committee. 
• He has been appointed by the Government of Pakistan to boards of several public companies and economic advisory councils. 
• He is involved in academic governance as a board member of the Karachi School of Business and Leadership (KSBL). 



Philanthropy and Social Impact

Arif Habib is also known for philanthropic activities and community service, supporting education and social welfare organisations, including:
• Fatimid Foundation
• Memon Health & Education Foundation
• Pakistan Centre for Philanthropy
• Karachi Education Initiative
These roles reflect his commitment to social development outside of pure business pursuits. 



Legacy and Influence

Arif Habib remains one of Pakistan’s most respected corporate leaders, with influence spanning capital markets, industry, and public policy. His journey—from a young stockbroker to the head of a diversified corporate group—highlights entrepreneurial vision, resilience through economic cycles, and a pivotal role in shaping Pakistan’s modern business landscape.

 

[Bilal]

Are the The Roosevelt Hotel and the Scribe Hotel owned by PIA or the Government of Pakistan directly ?

Have been moved to the holding company.

They will be dealt with separately. Roosevelt may be demolished to build a skyscraper with an American partner.

 

[Ali_Baba]

Have been moved to the holding company.

They will be dealt with separately. Roosevelt may be demolished to build a skyscraper with an American partner.

Is the holding company the same as that which owns PIA and what is being "bid for", ie has Arif Habib indirectly also purchased these two hotels aswell ?

 

[Meengla]

Arif Habib remains one of Pakistan’s most respected corporate leaders, with influence spanning capital markets, industry, and public policy. His journey—from a young stockbroker to the head of a diversified corporate group—highlights entrepreneurial vision, resilience through economic cycles, and a pivotal role in shaping Pakistan’s modern business landscape.

I am not Memon but every Karachiite knows how good the Memon community is when it comes to business management and enterpreneur spirit. They are like the Gujaratis from India (but better looking and more into charity )

 

[Bilal]

Is the holding company the same as that which owns PIA and what is being "bid for", ie has Arif Habib indirectly also purchased these two hotels aswell ?

No. PIA was separated out and sold. This transaction does not include those properties. They still remain 100% Government of Pakistan property.

 

[Bilal]

I am not Memon but every Karachiite knows how good the Memon community is when it comes to business management and enterpreneur spirit. They are like the Gujaratis from India (but better looking and more into charity )

They literally are from Gujarat.