PIA privatization has entered a decisive phase as Arif Habib, chairman of the investment firm leading the winning consortium, says the sale of Pakistan International Airlines Corporation Ltd (PIACL) will increase employment, expand operations, and restore the airline’s past glory.
The Arif Habib Group led consortium secured a controlling stake in PIA for Rs135 billion, marking Pakistan’s first major privatization in nearly two decades. The deal is being viewed as a landmark reform move aimed at reviving a national institution long burdened by losses and inefficiencies.
PIA Privatization and Employment Growth Prospects
Addressing widespread employee concerns following the PIA privatization, Arif Habib stated that job cuts are not part of the plan. Instead, he emphasized that workforce expansion would naturally follow business growth.
According to Habib, the current staff strength is reasonable, but the airline’s future expansion strategy will require additional skilled professionals, resulting in net job creation rather than layoffs.
He explained that the real challenge lies not in numbers but in quality and performance, noting that most PIA employees are highly capable and professionally trained.
PIA Privatization Aims to Restore Lost Global Prestige
Highlighting the airline’s historic achievements, Habib reminded stakeholders that PIA was once ranked as the world’s second-best airline, powered by the same workforce that exists today.
He further noted that PIA professionals played a pivotal role in establishing global carriers, including:
• Emirates Airline
• Singapore Airlines
• Malta Airlines
This legacy, he said, proves that Pakistani aviation professionals possess world-class skills, provided they are given the right environment, confidence, and institutional support.
With the right platform and leadership, these same professionals can once again elevate PIA to international standards.
Employee Protection Under PIA Privatization Deal
Reinforcing employee safeguards, Adviser to the Prime Minister on Privatization Muhammad Ali confirmed that all PIA employees must be retained for at least 12 months after the transaction, with existing contracts remaining unchanged.
This assurance has helped ease immediate workforce anxiety and aligns with the government’s broader strategy of ensuring social stability during structural reforms.
Fauji Fertiliser Joins PIA Privatization Consortium
Another key development in the PIA privatization process is the inclusion of Fauji Fertiliser Company in the Arif Habib–led consortium.
Although Fauji Fertiliser initially exited the bidding race, it later joined the consortium as a shareholder, strengthening the ownership structure. Discussions are ongoing to finalize the partnership’s terms.
Habib confirmed that Fauji Foundation Company is now part of PIA’s shareholding, adding institutional depth and long-term investment credibility to the deal.
Strategic Backing and National Investment Confidence
Habib also revealed that he met Chief of Defence Forces and Army Staff Field Marshal Asim Munir twice prior to the PIA privatization once in Karachi and once in Rawalpindi.
During these meetings, attended by leading businessmen and industrialists, the Field Marshal emphasized the importance of local investment in strategic national assets, including PIA.
This backing reflects growing confidence among policymakers and institutions that private-sector leadership can revive state-owned enterprises.
Why PIA Privatization Matters for Pakistan’s Economy
The PIA privatization represents more than a single transaction. It signals:
• Renewed investor confidence
• Commitment to economic reforms
• Potential aviation sector revival
• Improved fiscal discipline
• Long-term employment generation
If executed successfully, it could serve as a template for future privatizations in Pakistan.
A Turning Point for PIA
With fresh capital, experienced leadership, and institutional support, PIA privatization has the potential to transform the airline into a competitive regional player once again.
As Arif Habib and his consortium move forward, expectations remain high that Pakistan’s national flag carrier can reclaim its lost stature this time on a commercially sustainable and globally competitive foundation.