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Pakistan Completes PIA Privatization With Rs135 Billion Deal for 75% Stake

The sale closes during a tense political and security environment.

Overview

  • An official announcement said a consortium, reported to include the Arif Habib Group, won the PIA bid with Rs135 billion for 75% of shares, above a Rs100 billion reference price.
  • Prime Minister Shehbaz Sharif hailed the bidding as transparent and in the national interest, saying the process was broadcast live and conducted in line with law.
  • PTI spokesman Sheikh Waqas Akram rejected the prime minister’s offer of negotiations, stating the party will not take part in talks with the government.
  • ISPR reported a counterterrorism operation in Qalat where security forces killed eight militants and recovered weapons and ammunition.
  • Pakistan Railways suspended train services in Balochistan for one day, halting Jaffar Express, Bolan Mail and the Chaman service, while national events featured pledges to protect minority rights.