Overview
- The Cabinet Committee on Privatisation chaired by Deputy Prime Minister Ishaq Dar endorsed the Arif Habib Group-led consortium’s bid and urged swift cabinet sign-off.
- The winning offer of Rs135 billion is 35% above the reference price, with a pledge to invest an additional Rs80 billion over five years.
- Adviser on privatisation Muhammad Ali said all PIA employees must be retained for at least 12 months with no changes to their contracts.
- Retired staff were assured continued pensions, medical coverage and concessional travel, a stance welcomed by the PIA retirees’ association.
- Arif Habib said the turnaround plan centers on expansion and job creation and confirmed Fauji Fertiliser Company has joined the consortium.