ISLAMABAD: Prime Minister Shehbaz Sharif has congratulated the nation on the successful completion of the first financial closing of the privatization of Pakistan International Airlines (PIA).
The Prime Minister announced that following the successful fulfillment of all agreed conditions, the administrative control of PIA has officially been transferred to an investor consortium led by Arif Habib Corporation.
He said the government had successfully completed one of the country’s most complex and important privatization processes with full transparency.
In this regard, Prime Minister Shehbaz Sharif stated that the completion of the first financial closing indicates the beginning of a new chapter for both PIA and Pakistan’s broader economic reform programme.
He noted that the development sends a positive message to both domestic and international investors that Pakistan is fully prepared to promote business, investment, reforms, and sustainable economic growth.
The Prime Minister expressed confidence that the transfer of management would bring the national airline closer to regaining its past reputation and operational excellence.
He focused on that the government’s priority remains the protection of the interests of employees, passengers, and customers throughout the transition process.
He assured that PIA’s flight operations, services, and day-to-day activities would continue without interruption. He further stated that all aviation regulations, safety standards, and regulatory oversight would remain fully in place to ensure operational stability and compliance with national and international aviation requirements.
Meanwhile, the Prime Minister appreciated the contributions of Deputy Prime Minister Ishaq Dar, Field Marshal Syed Asim Munir, Defence Minister Khawaja Asif, Finance Minister Muhammad Aurangzeb, Adviser on Privatization Muhammad Ali, the Cabinet Committee on Privatization, and members of the Privatization Commission.
He credited the achievement to effective teamwork and the government’s “whole-of-government approach,” saying that coordinated institutional efforts had made it possible to accomplish a major economic reform initiative.
The successful first financial closing of PIA’s privatization is being viewed as a key development in Pakistan’s ongoing economic transformation strategy.
