Government Advances PIA Privatization with Successful Bid

Atif Ikram Sheikh, president of the FPCCI, congratulated Arif Habib Group on emerging as the successful bidder in the PIA privatization process and welcomed the completion of the first phase with commendable speed and transparency. The outcome reflects a competitive bidding environment where participating firms displayed strong credibility and reputations.

The FPCCI president highlighted that the government’s decision to place trust in the business community has produced positive signals for investors and stakeholders. He credited Prime Minister Shehbaz Sharif’s personal efforts for helping the national carrier reach this important milestone and said the transparent handling of the sale will build confidence in future privatization efforts.

Atif Ikram Sheikh stressed that PIA privatization is an essential step to reduce the fiscal drain caused by loss-making state enterprises, and he urged authorities to follow through with timely measures across other sectors. The FPCCI noted that persistent annual losses from public entities burden Pakistan’s economy and that privatization can play a key role in reversing this trend.

Emphasizing the need for comprehensive reforms in the energy sector, the FPCCI president called for the privatization of distribution companies without delay, arguing that DISCOs must be restructured to improve efficiency and service delivery. He said such moves are necessary to attract long-term investment and to deliver sustainable results for consumers and the national budget.

Looking ahead, the business community hopes the government will promptly move from the PIA privatization to reforms in power distribution and other state-owned enterprises. With credible private sector participation, Atif Ikram Sheikh said, Pakistan can reduce fiscal pressures and set the stage for stronger economic performance.