Who heads the consortium that won the PIA auction?

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Arif Habib Corporation Leads Consortium in PIA Privatisation

The consortium that successfully bid for a 75 per cent stake in Pakistan International Airlines (PIA) is headed by the Arif Habib Corporation. This consortium's winning bid amounted to 135 billion rupees, with the expectation that a new owner will take over the management of the airline starting from April of the upcoming year.
Consortium Headed by Arif Habib Corporation

A consortium spearheaded by the Arif Habib Corporation emerged as the highest bidder in the auction for a controlling stake in PIA. The group's offer of 135 billion rupees significantly exceeded the government's reserve price of 100 billion rupees. This successful bid marks a significant development in the government's efforts to privatise the national carrier.
Financial Terms of the Deal

The transaction involves the government receiving approximately 10 billion rupees in cash upfront as part of the deal. Furthermore, the government will retain a 25 per cent stake in PIA, which is valued at around 45 billion rupees. The structure of the deal is intended to infuse fresh capital into the airline, rather than merely facilitating a change in ownership.
Timeline for Handover

Following the auction, the privatisation process is set to proceed towards final approvals from the Privatisation Commission board and the cabinet, which are anticipated within days. The contract signing is expected to occur within a fortnight, with financial closure to follow after a 90-day period to satisfy regulatory and legal prerequisites. The target is for a new owner to be managing the airline by April next year.

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Who heads the consortium that won the PIA auction?

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