Karachi (December 24,2025) : Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum & All Karachi Industrial Alliance, Chairman National Business Group Pakistan, Chairman Policy Advisory Board FPCCI, and Former Provincial Minister Information Technology, has termed the successful privatization of Pakistan International Airlines (PIA) on December 23, 2025, as a landmark achievement that will rescue the national exchequer from a perpetual financial drain.
Mian Zahid Hussain stated that the transparent bidding process has renewed investor confidence in Pakistan’s economic reforms. The privatization ended with a winning bid of PKR 135 billion from a consortium led by business tycoon Arif Habib, well above the government’s reference price of PKR 100 billion. This consortium includes notable business figures like Fawad Ahmed Mukhtar, Gohar Ejaz, and Aqeel Karim Dhedhi, who now hold 75% stakes in the national carrier.
Mian Zahid Hussain noted that 92.5% of the bid amount will be injected directly into PIA to strengthen its operations, while 7.5% will go to the national exchequer. The bidder has committed to investing an additional PKR 80 billion over the next five years, while the operational fleet will be increased from the current 18 to 64 aircrafts, including an immediate addition of 18 planes, and remarkably no employee will be laid off for at least 12 months following privatization.
Mian Zahid Hussain highlighted that before this privatization, PIA had become a “white elephant,” accumulating over PKR 830 billion in losses and liabilities and requiring annual bailouts of nearly PKR 100 billion. By offloading 75% of its stakes, the government has successfully shifted the burden of operational inefficiencies and a significant portion of debt servicing—previously estimated at PKR 35 billion annually—away from the taxpayers. This move aligns with structural reforms designed by IMF, creating essential fiscal space for development projects.
Mian Zahid Hussain pointed out that the diaspora, which contributes around $3.3 billion monthly in remittances, can now look forward to the restoration of direct flights to the UK, EU, and USA, alongside world-class in-flight services and probably a modernized fleet with 64 aircrafts will drastically increase cargo capacity, providing a reliable and cost-effective channel for Pakistani exporters to reach global markets.
In conclusion, Mian Zahid Hussain stressed that the successful sale of PIA marks the first major privatization in Pakistan in two decades. He urged the new management to prioritize the “Great People to Fly With” legacy and transform the airline into a symbol of national pride and economic efficiency leading to foreign direct investment in the country.
