PIA to gain new heights under Arif Habib Consortium: PM

He was speaking at a ceremony for signing of transaction documents between the government and Arif Habib Consortium regarding privatization of PIA.

The Prime Minister congratulated the nation on the signing ceremony for PIA privatization.

He said Arif Habib and his team were distinguished business ambassadors of Pakistan and they made a valuable contribution to the country’s progress.

He said the first priority of the new owners of PIA would be comfortable journey of passengers and their safety.

He recalled that in the 1960s, PIA was at its peak, with the airline being a prominent and recognizable name in cities across Pakistan and in world capitals.

He congratulated the federal ministers, Chief of Army Staff and Chief of Defence Forces Field Marshal Syed Asim Munir for their commitment to the national interest.  He also appreciated Advisor for Privatization Muhammad Ali for the successful privatization of PIA.

The Prime Minister said the privatization process of PIA was telecast live and conducted in a transparent manner.

He said bidding was closed at the price of Rs 180 billion, out of which the consortium will spend Rs 135 billion on improvement of PIA while the government would get Rs 55 billion.

PM Shehbaz Sharif said through untiring efforts and innovation, new owners would regain past glory of PIA.

The nation was expecting that it would get best travel services and name of Pakistan would gain new recognition, he added.

Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Chief of Army Staff and Chief of Defence Forces Field Marshal Syed Asim Munir and federal ministers attended the ceremony.

Advisor for Privatization Muhammad Ali explained the salient features of the privatization of Pakistan International Airlines (PIA).

He said people of Pakistan would be beneficiary of the transaction as services of PIA would improve.