ISLAMABAD: Pakistani businessman Arif Habib has won the bidding to buy a 75 percent stake in Pakistan International Airlines (PIA) with the highest offer of Rs 135 billion, officials said.
The successful consortium was led by Arif Habib Corporation and beat rival bids, including one from a group led by Lucky Cement.
EARLY LIFE:
Arif Habib was born in Karachi in 1952 into a Memon family. He was the youngest of nine siblings. His family originally came from Bantva in Gujarat and migrated to Pakistan after independence.
BUSINESS CAREER:
Mr. Habib started his career as a stock trader and broker. Over time, he built his business from a small securities brokerage into a large diversified group, known today as the Arif Habib Group.
He played an important role in Pakistan’s financial markets and has served on business and economic boards, including as a governor at the Karachi School of Business and Leadership (KSBL).
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ARIF HABIB GROUP — BUSINESS GROWTH:
The Arif Habib Group is one of Pakistan’s major business houses. It operates in many sectors, including:
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Financial services & brokerage
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Commodities and investment firms
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Construction materials (cement, steel)
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Energy and real estate
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Education and consulting services
The group works with local and international partners and focuses on investment, risk management and corporate governance as part of its business strategy.
IMPORTANT EVENTS:
Over the years, the group has expanded steadily and diversified into many industries. It has won awards and recognition for strong governance and financial performance. The group’s companies are active on the Pakistan Stock Exchange and employ many people across the country.
PIA PRIVATISATION — LATEST DEVELOPMENT:
The Government of Pakistan has been trying to privatise Pakistan International Airlines (PIA) as part of major economic reforms. The airline has struggled financially for many years, but recent restructuring and improved profits helped attract serious buyers.
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On December 23, 2025, in a televised auction for PIA’s 75 percent stake:
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The Arif Habib consortium offered Rs 135 billion.
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A Lucky Cement-led group offered Rs 134 billion — just below the winning bid.
The deal was held in Islamabad with government officials and media present. Under the agreement, PIA employees will keep their jobs for at least one year after the takeover, and the winning consortium may buy the remaining 25 percent stake within 90 days.
Officials said most of the money from the sale will be used to improve PIA, with a small portion going to the federal government to support the airline’s revival.
This privatisation is seen as a major step in reforms and a big investment move in Pakistan’s aviation sector.
Arif Habib’s journey from a stockbroker to the head of one of Pakistan’s largest business groups is a significant story in the country’s corporate history. The successful bid for PIA marks another major milestone in his long business career and may shape the future of Pakistan’s national airline.
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