KARACHI – Lt Gen (retd) Anwar Ali Hyder has been named the inaugural chairman of Pakistan International Airlines Corporation Limited (PIACL) after management of the national carrier formally shifted to a consortium led by Arif Habib Corporation.
Hyder, who is also the Managing Director of Fauji Foundation, will oversee the airline’s board as it begins a new phase under private ownership.
The new leadership is expected to drive modernization, operational improvements, and long-term growth through fresh private-sector investment.
The announcement comes after the administrative control of national flag carrier was formally transferred to PIA Equity Ltd, a special-purpose vehicle of the Arif Habib Consortium, following the successful completion of the first financial close and all required regulatory approvals.
The landmark transaction, worth Rs180 billion, is largest privatisation deal ever completed in Pakistan.
It includes Rs125 billion in fresh investment to revive the struggling airline, while Rs55 billion will be paid to the government as proceeds from the sale. The consortium has already deposited an initial Rs1 billion as part of the takeover process.
The fresh capital will be directed towards renewing the fleet, expanding domestic and international destinations, improving operational efficiency and upgrading passenger services, with the aim of transforming PIA into a modern and financially sustainable airline. PIA Equity Ltd is backed by some of Pakistan’s leading business groups, including the Arif Habib Group, Fatima Fertiliser Company, Fauji Fertiliser Company, Lake City Holdings, The City School, and AKD Group Holdings.
The Second Closing is scheduled to take place within twelve months of the First Closing, in accordance with the terms of the SPSA, whereby the consortium has committed to invest a further Rs.45 billion into PIACL.
The consortium which has also served its intent to buy the remaining 25% of the PIACL shares as a Call option under the SPSA for an additional payment of Rs.45 billion to the Government of Pakistan.
Profile: Who is Lt Gen (retd) Anwar Ali Hyder?
Lt Gen (retd) Anwar Ali Haider is a former Pakistan Army officer who currently serves as the Managing Director of Fauji Foundation.
During his military career, he held several senior leadership roles, including Adjutant General at General Headquarters, President of the National Defence University, and Director General Staff Duties at the Chief of Army Staff Secretariat.
Following his retirement from active service, he joined the caretaker administration led by Anwaar-ul-Haq Kakar, where he was appointed Federal Minister for Defence and Defence Production.
Lt Gen (retd) Anwar Ali Hyder has extensive experience in military administration, infrastructure planning, and public sector leadership. During his service in the Pakistan Army, he was closely involved in the planning and expansion of Defence Housing Authorities (DHAs) and oversaw the development of major residential projects, including Askari Housing schemes across the country.
He also contributed to higher education and strategic studies, serving as President of the National Defence University while holding positions on the governing boards of the National University of Sciences and Technology (NUST), National University of Medical Sciences (NUMS), and National University of Technology (NUTECH).
After retiring from the military, Hyder transitioned into senior civilian roles, including Chairman of the Naya Pakistan Housing and Development Authority (NAPHDA). He later joined the caretaker federal cabinet as Minister for Defence and Defence Production. As a member of the Apex Committee of the Special Investment Facilitation Council (SIFC), he worked on initiatives aimed at promoting investment, strengthening economic development, and enhancing collaboration with domestic and international stakeholders.
His academic credentials include a master’s degree in Strategic Studies from the United States Army War College in Carlisle, Pennsylvania, and a Master of Science in War Studies from the National Defence University in Islamabad. In recognition of his distinguished military career and professional achievements, he was awarded the Chief of Army Staff Commendation Card and the Hilal-e-Imtiaz (Military), one of Pakistan’s highest military honours.
