PIA Management Control Transferred to Arif Habib-Led Consortium; Lt Gen (Retd) Anwar Ali Haider Appointed Chairman

The Privatisation Commission on Monday formally handed over management control of Pakistan International Airlines (PIA) to the Arif Habib Corporation-led consortium, marking the completion of the long-delayed privatisation process of the national flag carrier.

The consortium, which acquired a 75% stake in PIA for Rs135 billion, has now assumed full operational control of the airline. A new Board of Directors has been constituted under the private ownership structure.

Lieutenant General (Retired) Anwar Ali Haider, Managing Director of Fauji Foundation, has been appointed as the Chairman of the Board of PIA Equity Limited, the special purpose vehicle established to manage the privatised entity.

The development is seen as a significant milestone in the government’s efforts to revive the financially troubled airline, which has long been a burden on the national exchequer. The new management is expected to focus on operational efficiency, fleet modernisation, and restoring PIA’s regional competitiveness.

This transfer concludes a privatisation journey that began with a competitive bidding process in late 2025.