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Arif Habib consortium wins PIA for Rs135 billion A consortium led by Arif Habib Corporation secured control of Pakistan International Airlines for Rs135 billion on Tuesday, narrowly outbidding rivals in a televised auction that marked a turning point for the debt-laden national carrier.
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The winning bid came after a competitive open auction between the Arif Habib group and the Lucky Cement consortium, which offered Rs134 billion in the final round. Both had surpassed the government's reference price of Rs100 billion in initial sealed bids, with Arif Habib offering Rs115 billion and Lucky Cement Rs101.5 billion. A third bidder, Air Blue, submitted a substantially lower bid of Rs26.5 billion.
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"Whoever wins, Pakistan wins," Finance Minister Muhammad Aurangzeb said during the ceremony, emphasizing that all bidders were Pakistani entities. The Arif Habib consortium includes Fatima Fertiliser Company Limited, City Schools, and Lake City Holdings

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