Arif Habib Corp Leads Historic Bid for PIA

Arif Habib Corp has placed the leading bid in a landmark auction for the privatisation of Pakistan International Airlines, offering 135 billion rupees, surpassing the government's base and minimum price requirements.

A consortium led by investment firm Arif Habib Corp has emerged as the frontrunner in the race to privatise Pakistan International Airlines (PIA), according to state television reports on Tuesday.

The group submitted a bid of 135 billion rupees ($482.32 million), significantly exceeding the government's initial minimum ask of 100 billion rupees and the starting auction price of 115 billion rupees.

This pivotal auction marks a significant step in the government's efforts to privatise the national carrier, with investors eyeing the potential growth in the nation's aviation sector.