Director General of the Pakistan Civil Aviation Authority (PCAA) Nadir Shafi Dar on Tuesday said the successful privatisation of Pakistan International Airlines (PIA) was a clear testament to the government’s resolve to transform the country’s aviation sector.
In a statement, Dar credited Defence Minister Khawaja Asif and Secretary Defence Lt Gen Muhammad Ali for extending critical support that enabled the PCAA to carry out key reforms, leading to the removal of aviation restrictions imposed by the European Commission and the United Kingdom.
He said the lifting of these restrictions played a pivotal role in the success of the privatisation process, significantly enhancing investor confidence and pushing PIA’s bid value from Rs10 billion in 2024 to Rs135 billion in the latest auction.
The DG CAA noted that the successful bidding of PIA would help spur the growth of Pakistani airlines and pave the way for opening new global destinations with direct connectivity from Pakistan.
He further said that the International Civil Aviation Organisation (ICAO) has expressed full confidence in the oversight and regulatory capabilities of the Pakistan Civil Aviation Authority, terming it a key endorsement of the reforms undertaken in recent years.
The Arif Habib Corporation Limited–led consortium acquired a majority stake in PIA with the highest bid of Rs135 billion in an auction held for the privatisation process of the national flag carrier.
During the open auction round, Arif Habib raised its bid from Rs115 billion to Rs135 billion after the Lucky Cement Limited–led consortium increased its earlier bid of Rs101.5 billion to Rs134 billion in the second round of the open-bidding.
Arif Habib, the chief of Arif Habib Group, described the development as the “triumph of Pakistan”.
He maintained that the PIA privatisation would help boost investment in the country, adding that it would also attract foreign investment in Pakistan.
The businessman lauded the government for successfully conducting the bidding process, saying the Privatisation Commission completed the entire process in a transparent manner. “We will work hard to make this airline great again,” he added.
