Prime Minister Shehbaz Sharif and Chief of Defence Forces and Army Staff, Field Marshal Asim Munir, attended a ceremony in Islamabad on Thursday to mark the signing of documents for the privatisation of Pakistan International Airlines (PIA).
The agreement was signed between the government and a consortium led by Arif Habib Corporation Limited, which won the auction for 75% of PIA’s shares for Rs135 billion in December last year.
During the ceremony, Adviser to the Prime Minister on Privatisation, Muhammad Ali, praised the efforts of the Prime Minister and the army chief. He said their guidance and support were crucial in completing the privatisation process. “Had it not been for their efforts, we would not be here today,” he remarked.
Muhammad Ali described the signing as “one of the most significant milestones undertaken by the current government.” He added that the privatisation process was completed efficiently and transparently, with the highest bidder winning after a competitive auction.
According to the adviser, the total investment by all consortium members will reach Rs180 billion (approximately $650 million). Out of this, Rs125 billion ($450 million) will be invested directly into PIA, while Rs55 billion ($200 million) will be paid to the government. This deal is being called the largest privatisation transaction in Pakistan’s history.
Moreover, Pakistan Ambassador to Norway, Saadia Altaf Qazi, has announced that the resumption of Pakistan International Airlines (PIA) direct flights between Pakistan and Norway is a top priority to meet the urgent needs of the Pakistani community residing there.
Ambassador Qazi said she had a phone conversation with PIA CEO Air Vice Marshal Muhammad Amir Hayat, relaying the demands of senior citizens and business persons in Norway for the airline to restart its flight operations promptly.
She emphasized that resuming direct flights would also boost economic ties between Pakistan and Norway, underlining the importance of addressing the community’s long-standing demand.
In response, CEO Muhammad Amir Hayat assured that PIA’s flight operations between the two countries would begin soon, providing relief and convenience to the Pakistani diaspora.
Ambassador Qazi described the announcement as a significant moment of joy for the community, adding that, God willing, direct flights from Pakistan to Norway will commence very soon.
She also highlighted her ongoing commitment to the welfare of Pakistanis in Norway, noting that just as she had facilitated dual nationality services and NADRA counters, she would continue to play her role in ensuring that PIA flight operations resume for the community’s benefit.
