ISLAMABAD – The Fauji Fertilizer Company on Thursday joined the Arif Habib Consortium in the privatization process of Pakistan International Airlines (PIA).
The collaboration was confirmed through an official statement issued by the consortium.
According to the statement, the inclusion of the Fauji Fertilizer Company will bring significant financial support and corporate expertise to the project. The consortium successfully acquired 75% of PIA’s shares by placing the highest bid of 135 billion rupees.
The statement further detailed that the Fauji Fertilizer Company will be integrated into the administrative structure of the consortium. A major portion of the investment—125 billion rupees—will be directed towards upgrading PIA’s ground operations in the first year.
In the competitive bidding process, the Arif Habib Consortium emerged as the highest bidder, securing 75% of PIA’s shares, followed closely by the Lucky Consortium, which placed a bid of 134 billion rupees.
