Pakistan's government plans to transfer control of Pakistan International Airlines to the Arif Habib Group-led consortium by the end of April, marking a significant step in the country's privatization drive. The deal, valued at 135 billion rupees ($484 million), involves selling a 75% stake to the business group led by prominent Pakistani businessman Arif Habib.

The airline, long plagued by operational inefficiencies, an aging fleet, and mounting losses, has been a burden on state finances for decades. The winning consortium includes major industrial players like Fatima Fertilizer Co., Fauji Fertilizer Co., and AKD Group. The government is currently finalizing its offer to purchase the remaining 25% stake from the consortium.

This privatization move is part of Pakistan's broader reform agenda tied to its International Monetary Fund loan program. The Privatisation Commission is simultaneously preparing to auction stakes in power distribution companies, including Gujranwala Electric Power Co. and Islamabad Electric Supply Co., as part of the same reform initiative.