Karachi: In a significant development in the ongoing privatisation of Pakistan International Airlines Corporation Limited (PIACL), Arif Habib Corporation Limited (AHCL) announced that its consortium has emerged as the highest-ranked bidder for acquiring a majority stake in the national carrier. This announcement was made public on December 24, 2025, as part of AHCL's continuous disclosure obligations.

The consortium, led by AHCL and comprising Fatima Fertilizer Company Limited, The Lake City Holdings (Private) Limited, AKD Group Holdings (Private) Limited, and City Schools (Private) Limited, participated in a competitive bidding process held on December 23, 2025. The consortium submitted a bid of PKR 135 billion for a 75% equity stake in PIACL, positioning itself at the forefront of the privatisation initiative.

According to information available from the Pakistan Stock Exchange (PSX), the privatisation process requires several layers of approval before finalising the transaction. These include recommendations from the Board of the Privatisation Commission and the Federal Cabinet's decision. Only upon receiving these approvals will a Letter of Acceptance be issued, officially declaring the successful bidder.

Arif Habib Corporation Limited has committed to maintaining transparency throughout the process, adhering to confidentiality obligations and national interest considerations. The corporation has assured stakeholders of timely disclosures of material and price-sensitive information, in strict compliance with prevailing laws and regulations.