Arif Habib states that no conclusive decision has been made on the acquisition of PIA’s remaining 25% shares.

Karachi: Businessman Arif Habib stated that a definitive decision concerning the acquisition of the remaining 25% shares of Pakistan International Airlines (PIA) has not yet been reached.

The Arif Habib Consortium has formally obtained a 75% ownership in PIA after securing the privatization bid with a proposal of Rs135 billion, as reported by ARY News.

The consortium has indicated interest in obtaining the remaining 25% of shares in the national carrier. During an ARY News show, Arif Habib elucidated that a definitive decision about the acquisition of 100% ownership of PIA has not yet been made.

The new owners are currently concentrating on finalizing their bidding strategy and formulating a detailed business plan. In accordance with this objective, discussions have taken place with international consultants regarding strategies to rejuvenate the airline.

“We currently possess a 90-day timeframe. We will meticulously evaluate all facets before making a definitive decision about the acquisition of 100% ownership of PIA.

It was previously stated that the group intends to acquire the remaining 25% ownership within the next three months (90 days). Upon finalization of this transaction, PIA will transition into a wholly private corporation. The divestiture of the remaining 25% stake is anticipated to yield an extra Rs 45 billion for the government.