Skip to content
Arif Habib Consortium Wins PIA Privatization Bid with Rs135 Billion Offer
The Arif Habib Consortium has won the bid for the privatization of Pakistan International Airlines after submitting the highest offer of Rs135 billion, officially acquiring the national carrier.
The final round of bidding concluded with a close contest between the Arif Habib Consortium and the Lucky Consortium. In the twelfth and final bid, Arif Habib Consortium offered Rs135 billion, while Lucky Consortium placed its last bid at Rs134 billion.
The government had set a reference price of Rs100 billion for the privatization of PIA, which was comfortably surpassed during the bidding process.
In the first phase of bidding, the Arif Habib Group emerged as the highest bidder with an offer of Rs115 billion. Lucky Group submitted a bid of Rs101.5 billion, while Airblue offered Rs26.5 billion. Due to its significantly lower bid, Airblue was eliminated in the first round.
The second phase of bidding saw an intense back-and-forth between the two remaining contenders. Lucky Group initially raised its offer to Rs115.5 billion in response to Arif Habib Group’s Rs115 billion bid. Arif Habib then increased its bid to Rs116 billion, triggering a competitive sequence of incremental increases.
During the process, Arif Habib Consortium frequently raised its bid by Rs50 to Rs75 crore at a time, while Lucky Group increased its offer in smaller increments of Rs25 crore after internal consultations. When Arif Habib’s bid reached Rs121 billion, Lucky Group requested a 30-minute consultation break, briefly pausing the bidding.
The competitive process continued until the final round, where Arif Habib Consortium secured victory with a Rs135 billion offer.
The auction process of the national airline was completed successfully. On Tuesday morning, sealed bids submitted by three consortia were opened in public, and the entire process was broadcast live across television channels, ensuring transparency.
Officials termed the privatization process transparent and competitive, marking a significant milestone in the restructuring of Pakistan International Airlines.
Post Views: 100
