Prime Minister Shehbaz Sharif voiced strong confidence on Thursday that Pakistan International Airlines (PIA) will achieve new levels of success under the Arif Habib Consortium, following the signing of key transaction documents for the airline’s privatisation.
Addressing the ceremony, he highlighted the potential for enhancements in performance, punctuality, cabin services, and professional standards, marking a turning point for the beleaguered national carrier.
Milestone in Privatisation and National Progress
The PM congratulated the nation on this significant achievement in PIA’s restructuring. He praised Arif Habib and his team as “business ambassadors” contributing to Pakistan’s advancement.
The deal underscores efforts to revive an airline that has faced challenges in recent years. Sharif emphasized transparency, with the entire bidding process broadcast live.
The final bid closed at Rs180 billion, with the consortium investing Rs135 billion in operations.
The government will receive Rs55 billion from the transaction. This step aims to restore PIA’s reputation for safe and comfortable passenger experiences.
Restoring Past Glory and Future Aspirations
Recalling PIA’s heyday in the 1960s as a globally renowned airline. The PM stressed the new owners’ focus on innovation and sustained efforts. He expressed hope that PIA would once again elevate Pakistan’s name internationally.
Acknowledgments went to federal ministers like Advisor for Privatisation Muhammad Ali. Military leaders, including Chief of Defence Forces Syed Asim Munir, were commended for their oversight. The process reflects dedication to national interests and transparent governance.
Attendees included Deputy Prime Minister Ishaq Dar and senior officials. Advisor Muhammad Ali detailed the plan, assuring benefits for the public through improved services.
This privatisation signals a shift towards efficient, private-led management.
Overall, it positions PIA for a competitive resurgence in the global aviation sector.The event highlights optimism for economic reforms yielding tangible results.