The Privatisation Commission Board has approved the inclusion of AKD Group Holdings (Pvt.) Ltd in the consortium led by Arif Habib Corporation Limited (AHCL). This move strengthens one of the four pre-qualified bidding groups vying for the privatization of Pakistan International Airlines Corporation Limited (PIACL).
The inclusion of AKD Securities was approved under the conditions outlined in the Statement of Qualifications (SOQ), allowing the consortium to enhance its strategic and financial capabilities for the bidding process.
Government Reaffirms Commitment to Privatization
The decision was highlighted by Advisor to the Prime Minister Khurram Schehzad, who emphasized that the government remains committed to executing its privatization agenda with efficiency, transparency, and strategic focus.
Officials expressed a collective resolve to address previous challenges and ensure the timely and successful completion of ongoing privatization transactions in line with the Government of Pakistan’s broader reform objectives.
Details of the AHCL Consortium and PIA Bid
The AHCL-led consortium, now strengthened with AKD Group Holdings, is among four pre-qualified parties participating in the PIA privatization process. The consortium’s enhanced financial backing and expertise are expected to make its bid more competitive.
The Board also recommended a reference price for the privatization of HBFCL and outlined the terms of the Sale Purchase Agreement, which will be submitted to the Cabinet Committee on Privatization (CCoP) for review and approval.
PMRCL’s Role in PIA Sale
The privatization process for PIA is structured as a negotiated sale to the Pakistan Mortgage Refinance Company Limited (PMRCL), which has been pre-qualified as a bidder. The CCoP and Federal Cabinet previously approved proceeding with a negotiated sale to a single pre-qualified bidder in July 2023.
PMRCL has submitted its bid, which will be opened following the approval of the reference price by the CCoP and its ratification by the Federal Cabinet.
Strategic Implications for Pakistan’s Aviation Sector
The inclusion of AKD Securities in the Arif Habib consortium demonstrates growing investor confidence in PIA’s privatization, signaling the government’s commitment to reform and modernize the national airline.
By strengthening the consortium, the move also reflects efforts to maximize efficiency, ensure financial sustainability, and attract strategic investors in one of Pakistan’s most high-profile privatization projects.
The partnership is expected to bring enhanced operational, financial, and management expertise to PIA, helping transform the airline into a competitive and profitable entity in the regional aviation market.
