Chaudhry Manzoor Ahmed of the Pakistan People's Party (PPP) has condemned the privatization process, labeling it a 'robbery' of Rs10 billion and calling for an independent inquiry. He argues that PIA, which generated Rs26 billion in profit in 2024, is being sold for a fraction of its worth, with total assets valued at Rs187.288 billion. The controversy deepens as the Privatisation Commission's Chairman, Muhammad Ali, stated that the expected financial close for the deal is now pushed to next month, contradicting earlier timelines.
BUSINESSPublished 30 Apr 2026 • Published 4h ago
PPP's Chaudhry Manzoor Ahmed Denounces PIA Privatization as Robbery
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The privatization of Pakistan International Airlines (PIA) has reached a critical point as the Arif Habib Corporation consortium has reportedly acquired 100% of the airline's shares, with a bank guarantee of Rs45 billion submitted. However, the government is now walking back its payment timeline, as the consortium has yet to deposit the expected Rs83 billion, raising concerns about the transparency of the sale.
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