Investment Consortium's Bold Bid for PIA Privatization

A consortium led by Arif Habib Corp. made the highest bid of 115 billion rupees for the privatization of Pakistan International Airlines. The consortium includes Fatima Fertiliser Company, City Schools, and Lake City Holdings. This bid indicates a significant move towards transforming the national carrier.

An investment consortium spearheaded by Arif Habib Corp. has emerged as the top bidder in the privatization process of Pakistan International Airlines, offering a substantial 115 billion rupees ($411 million), according to state television reports.

Included in the consortium are notable players such as Fatima Fertiliser Company, a prominent fertiliser manufacturer, City Schools, a leading private school network, and Lake City Holdings Limited, a real estate firm.

This strategic maneuver underscores a pivotal shift in the management of the national carrier, marking an important milestone in Pakistan's aviation sector.

(With inputs from agencies.)