Arif Habib proposes reinvestment plan for PIA growth

Renowned businessman Arif Habib has put forward a suggestion to the government regarding the reinvestment of funds obtained from the privatisation of Pakistan International Airlines (PIA). His proposal aims to utilize these proceeds to support the growth of the national carrier by venturing into new sectors like aviation and corporate farming. As per the plan, the government would maintain a 49% ownership stake in PIA.

Habib stressed the significance of presenting a detailed plan to potential bidders prior to their submission of bids. This plan should include clear timelines for the repayment of any outstanding debts to entities such as the Civil Aviation Authority (CAA) and Pakistan State Oil (PSO).

The privatisation of state-owned enterprises, including PIA, has been a topic of discussion in Pakistan for several years. Proponents argue that privatisation can lead to increased efficiency and competitiveness in the market, while critics express concerns about job losses and potential negative impacts on service quality.

Arif Habib's proposal to reinvest the proceeds from PIA's privatisation into the airline itself presents a strategic approach to support the growth and diversification of the national carrier. By retaining a significant ownership stake and providing a clear repayment plan, this initiative aims to ensure the sustainability and expansion of PIA in the long run.