New owners say more jobs will be created in Pakistan International
Airlines (PIA)
Arif
Habib, chairman of the investment firm leading the consortium that secured
a controlling stake in Pakistan
International Airlines Corporation Ltd (PIACL), has said that privatizing
the national carrier will result in more jobs as the new owners plan to expand
the airline’s operations.
The Arif Habib Group–led consortium won the
auction for PIA last week with a bid of Rs135 billion, following a competitive
process. The sale marks Pakistan’s first major privatisation in nearly 20
years.
Speaking on a TV programme, Habib addressed
concerns and protests by PIA employees regarding job security after privatization.
He said the airline’s current staffing levels were “reasonable” and stressed
that overall employment would increase as expansion plans move forward.
However, he noted that improving “quality and
performance” would be a key challenge. Habib said most PIA employees were
highly capable, adding that Pakistanis were generally competent and skilled.
Read More Arif
Habib consortium plans to expand PIA fleet to 64 aircraft, extend operations
He recalled that PIA once ranked as the
world’s second-best airline and credited the same workforce for that
achievement. He also highlighted PIA’s role in helping establish airlines such
as Emirates, Singapore Airlines and Malta Air.
“These examples show that Pakistanis have the
skills,” Habib said. “If they are given confidence, the right platform and
support, they can run PIA effectively. We hope they will help restore the
airline’s former glory.”
A day after the privatization, Prime
Minister’s Adviser on Privatisation Muhammad Ali told Reuters that the buyer
would be required to retain all employees for 12 months after the transaction,
with existing contracts remaining unchanged.
During the interview, Habib also spoke about Fauji Fertiliser Company, which had initially
participated in the bidding process but later withdrew. Following the auction,
the company joined the Arif Habib–led consortium.
Read More PIA
set to come under Arif Habib–led consortium by April 2026
Confirming the move, Habib said discussions
were under way to finalize the terms of the partnership and that Fauji
Foundation Company was now part of the consortium as a shareholder in PIA.
He
also revealed that he had met Chief of Defence Forces and Army Chief Field
Marshal Asim Munir twice before the privatization—once in Karachi and once in
Rawalpindi—along with other business leaders. According to Habib, the field
marshal had encouraged local businesses to take interest and invest in the
national airline.
Source:
Dawn