Arif Habib-led consortium pre-qualified for PIA privatisation bid

Buy-side due diligence phase to follow as four parties move to next round

KARACHI — Arif Habib Corporation Limited (PSX: AHCL) has been pre-qualified by the Privatisation Commission of Pakistan to participate in the next phase of the privatisation of Pakistan International Airlines Corporation Limited (PIACL), according to a press release issued by the commission.

The company, acting as the lead member of a consortium, submitted both an Expression of Interest (EOI) and a Statement of Qualification (SOQ) for the transaction, as part of the federal government’s broader efforts to offload its majority stake in the national flag carrier.

The consortium comprises Arif Habib Corporation Limited, Fatima Fertilizer Company Limited, City Schools (Private) Limited, and Lake City Holdings (Private) Limited—spanning investment, manufacturing, education, and real estate sectors respectively.

Out of the entities that submitted EOIs, a total of four, including the AHCL-led consortium, have been shortlisted to proceed to the next stage: the buy-side due diligence process. This phase will involve a detailed evaluation of PIACL’s financial, legal, and operational records and is considered a key step in determining final bids.

“The consortium’s continued participation will be subject to the outcome of this due diligence and the decision of its Board of Directors,” AHCL stated in a notice to the Pakistan Stock Exchange.

AHCL also reaffirmed its commitment to disclosing any material or price-sensitive information in accordance with relevant laws, while ensuring adherence to confidentiality and national interest considerations.

As a diversified investment holding company, AHCL has a history of pursuing strategic acquisitions across multiple sectors, and its entry into the bidding process signals growing private sector interest in acquiring the ailing state-owned airline.

The Privatisation Commission has positioned the sale of PIACL as a cornerstone of its reform agenda, seeking to reduce the government’s footprint in commercial enterprises and attract private capital to improve efficiency and service delivery in critical sectors.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read