ANI News Pakistan sells its national carrier PIA for Rs. 4300 crores after privatising airline

Pakistan’s Prime Minister Shehbaz Shariff sold government PIA at 135Billion. After an intense bidding war on Dec 23, Pakistan’s Arif Habib Corporation won PIA’s 75% stake. Arif Habib Corporation’s CEO Shahid Habib called it “victory” after surpassing the competitor Lucky cement. Pakistan International Airlines was sold to Arif Habib Corporation ARIF.PSX in a televised auction. Now, Pakistan’s Arif Habib Corporation holds owner of stake in ‘national flag-carrier’ PIA. The auction marked Pakistan’s second attempt to sell PIA as part of reforms after securing a $7 billion IMF bailout. This sale of PIA’s majority stake marked the first major privatization in Pakistan in nearly two decades.

#PakistanNationalAirline #PIA #Pakistan #IMF #ArifHabib #AirlinePrivatisation

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