KARACHI: Prominent businessman Arif Habib has shared fresh insights into the privatization of Pakistan International Airlines (PIA), revealing that Asim Munir personally reached out to leading business figures during the process.
Speaking at an event in Karachi, Habib said the army chief contacted him and other members of the business community to discuss the future of the national carrier.
According to Habib, Munir emphasized his preference for a Pakistani consortium to acquire the airline. Habib added that he suggested a military-backed business group should also participate in what he described as a constructive national effort.
Fauji Fertiliser Takes 33.9% Stake
Habib disclosed that Fauji Fertilizer Company has now become the largest shareholder in PIA, holding a 33.9 percent stake. The move represents a significant transformation in the airline’s ownership structure under the ongoing privatization drive.
20 Aircraft Planned for Fleet Expansion
Providing further details, Habib said the airline is in talks to induct 20 additional aircraft to modernize and expand its fleet. He noted that both Airbus and Boeing have assured PIA of the availability of aircraft approximately 10 years old in the near future.
The planned acquisition is being viewed as a crucial step toward revitalizing the financially troubled carrier and strengthening its operational performance.
Optimism Over Economic Outlook
Expressing confidence in the restructuring process, Habib said there is broad satisfaction over PIA’s privatization and described it as a positive signal for Pakistan’s economic trajectory.
“Hopefully, better days lie ahead for Pakistan,” he remarked, voicing optimism about the country’s future.
