Pakistan International Arlines (PIA) : News / Updates

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On June 25, 1964, a PIA's Fokker F-27 Friendship Mk 200 (AP-ALO) meeting a severe squall on landing at Dhaka's Tejgaon Airport.

 

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PIA Engineering: From Ispahani Hangar AP-BGJ under maintenance check and paint job.

 

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2004

 

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1980's

 

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Pakistan International Airlines (PIA) Sikorsky S-61N in East Pakistan.

 

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PIA Boeing 737 at Skardu Airport.

 

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1966 photo of a brand new Boeing 707 of Pakistan International Airlines (PIA) performing a test flight in USA before delivery to the airline.

 

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PM Shehbaz congratulates nation on completion of PIA’s privatisation​

News Desk
January 29, 2026



Prime Minister Shehbaz Sharif and Chief of Defence Forces and Army Staff Field Marshal Asim Munir attended a ceremony in Islamabad on January 29, where documents pertaining to the transaction of Pakistan International Airlines’ acquisition were signed. — Screengrab via govt of Pakistan/ X.

Prime Minister Shehbaz Sharif congratulated the nation on Monday on the completion of Pakistan International Airlines’ (PIA) privatisation as he, alongside Chief of Defence Forces and Army Staff Field Marshal Asim Munir, witnessed the signing of documents pertaining to the transaction.

The documents were signed by the government and a consortium led by Arif Habib Corporation Limited at a ceremony in Islamabad, where several federal ministers were also present.

The Arif Habib-led consortium had won the auction for 75 per cent shares of PIA in December last year, making a winning bid of Rs135 billion.

After the documents were signed, PM Shehbaz said, “I want to congratulate the entire nation from the bottom of my heart on the completion of PIA’s privatisation, the process for which began a month ago.”

He commended Arif Habib — chairman of the investment firm that headed the consortium that won the auction for PIA — and his team, terming them “committed business ambassadors of Pakistan”.

 

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Earlier, as the ceremony commenced, Adviser to the PM on Privatisation Muhammad Ali thanked the premier and the army chief for their “immense hard work” and “support” in the process of PIA’s privatisation.

“Had it not been for their guidance and engagement, we would not be here today. I have no qualms in saying that today we are here because of their efforts,” Ali said.

He said today’s signing marked “one of the most significant milestones undertaken by the current government”, adding that the transaction was completed in a very efficient and transparent manner. And the highest bidder won the auction for PIA after a competitive process, he said.

The PM’s adviser further stated that the airlines’ privatisation had turned out to be “largest transaction in the history of privatisation in Pakistan”.

“Under this transaction, the investment by all consortium members will add up to Rs180bn, which is equivalent to around $650 million. From this amount, Rs125bn, which is equivalent to $450m, will be invested in PIA and Rs55bn, equivalent to $200m, will be paid to the government,” he detailed.

 

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Habib addressed the ceremony and said, “We consider ourselves very lucky that we volunteered for this national cause.”

He said the entire investment under the transaction was “100pc equity”.

Habib further said PIA’s privatisation was an endorsement of the business sentiment in Pakistan being “very positive”.

He further stated that the biggest beneficiaries of this transactions would be people, who would avail the airlines improved services. He added that they had held a meeting with aircraft manufacturer Boeing and would hold another one with Airbus.

“We are exploring more options as well,” he said, adding that his consortium would get PIA’s control in three months and until then, the consortium’s teams was working very hard.