🇵🇰 Pakistan Privatizes National Carrier for US$ 483 Million 📈

Pakistan has successfully privatized its national flag carrier, Pakistan International Airlines (PIA), selling a 75% stake to a consortium led by local investment firm Arif Habib. • The sale was finalized at PKR 135 billion (approximately US$ 483 million). • Arif Habib emerged as the top bidder, offering PKR 115 billion initially, surpassing Lucky Cement (PKR 105.5 billion) and Airblue (PKR 26.5 billion). • The government was initially offering a 75% stake, with the successful bidder having 90 days to purchase the remaining 25% shares. • Financial Commitments: • 92.5% of the 75% sale proceeds will be reinvested into PIA. • The remaining 7.5% will go to government coffers. • The investor is also required to inject an additional PKR 80 billion over the next five years.