Arif Habib Corp Advances in Privatization Bid for Pakistan International Airlines

Karachi, Arif Habib Corporation Limited has progressed in the privatization process of Pakistan International Airlines, as confirmed by a recent press release from the Privatization Commission. According to information available from the Pakistan Stock Exchange (PSX), the company announced it has been pre-qualified to participate in the bidding process for the state-owned airline. This development follows an earlier disclosure on May 9, 2024, regarding the company’s participation.

The press release from the Privatization Commission, cited as Press Release # 16 / 2024, states that Arif Habib Corporation, along with five other companies or consortia, has been selected as pre-qualified bidders. These entities will now commence the due diligence process before submitting their final bids. The future participation of Arif Habib Corporation in this bidding will depend on the outcomes of the due diligence and subsequent decisions by its Board of Directors.

Arif Habib Corporation functions as an investment holding company, primarily focusing on strategic investments in subsidiary companies and associates across various sectors. The company emphasizes that evaluating investment proposals is a routine part of its operations and remains committed to maintaining confidentiality and considerations of national interest in its disclosures to both the Commission and the Exchange.