The Privatisation Commission announced on Monday that management control of Pakistan International Airlines Corporation Limited (PIA) has been formally transferred to the consortium led by Arif Habib Corporation, bringing to an end a year-long privatisation process. The government successfully completed the first financial closing of the PIA privatisation deal with the transfer of management rights now in place following the satisfaction of all conditions precedent under the Share Purchase and Subscription Agreement (SPSA).
During a meeting of the restructured PIACL board, the commission appointed Lt Gen (retd) Anwar Ali Haider as the first chairman of the privatised entity. The Privatisation Commission commended Prime Minister Shehbaz Sharif, Deputy Prime Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb for their support and guidance throughout the process.
The commission highlighted that since January 29, 2026, they and other government stakeholders including the Ministry of Defence have fulfilled a total of 40 conditions precedent outlined in the SPSA. These included approvals from various regulatory bodies such as the Pakistan Civil Aviation Authority for aviation-related matters, filings with the Competition Commission of Pakistan regarding merger control, and processes involving the Pakistan Telecommunication Authority concerning change-of-control.
Source: Original report
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