Karachi: Businessman Arif Habib has stated that no closing choice has but been made relating to the acquisition of Pakistan Worldwide Airways (PIA) remaining 25% shares.
The Arif Habib Consortium has formally acquired a 75% stake in PIA after profitable the privatization bid with a proposal of Rs135 billion, ARY Information reported.
The consortium has additionally expressed curiosity in buying the remaining 25% shares of the nationwide provider. Nonetheless, talking on an ARY Information programme, Arif Habib clarified {that a} closing choice on buying 100% possession of PIA has not but been taken.
He stated the brand new homeowners to date have been targeted on finalizing their bid technique and growing a complete marketing strategy. Primarily based on this plan, consultations have been held with worldwide advisors on measures to revive the airline.
“We now have a 90-day time interval. Throughout this time, we’ll rigorously evaluate all elements after which make a closing choice on whether or not to amass 100% possession of PIA or not,” he added.
Earlier, it was reported that the group is about to buy the remaining 25% stake inside the subsequent three months (90 days). Upon completion of this transaction, PIA will change into a completely personal entity. The sale of the ultimate 25% share is predicted to generate a further Rs 45 billion for the federal government.
