PIA New Board of Directors nominated – Lieutenant General Retired Anwar Ali Haider is the new Chairman PIA
# Pakistan’s Flagship Carrier Enters New Era: PIA Privatisation Finalised in Historic Rs180 Billion Deal
**Islamabad, Pakistan** – In a landmark moment for Pakistan’s economy, the privatisation of Pakistan International Airlines (PIA) has officially concluded. The national flag carrier has been formally handed over to the PIA Equity Limited Consortium, marking the country’s largest privatisation in two decades.
The transfer of shares was finalised on June 28, 2026, following the completion of all financial and regulatory requirements . The government received Rs55 billion as part of the divestment proceeds, with the consortium committing a total investment of Rs180 billion. This includes a substantial Rs125 billion fresh equity injection aimed at recapitalising and restructuring the debt-laden airline .
## A New Board Takes Flight
Immediately following the handover, the new management constituted a fresh Board of Directors. The board unanimously appointed **Lieutenant General (Retired) Anwar Ali Haider** as the new Chairman of PIA .
The newly constituted board comprises a mix of prominent business magnates and industry leaders, including **Gohar Ejaz, Arif Habib, Jahangir Paracha, Aqeel Karim Dhedhi (AKD), Fazal Sheikh, and Farzana Feroze** .
## A Consortium of Titans
The PIA Equity Limited Consortium is a powerful conglomerate of some of Pakistan’s largest corporate entities. Led by the Arif Habib Group, the consortium includes Fatima Fertiliser Company, Fauji Fertiliser Company, Lake City Holdings, AKD Group, and The City School Group .
The new owners have pledged to focus on modernising the fleet, improving service standards, and restoring the airline’s reputation for global excellence . In a statement, the new management acknowledged the weight of the nation’s trust, vowing to earn it “mile by mile, smile by smile, year by year” .
## A Historic Milestone
The completion of the deal marks a critical success for the government’s privatisation programme and a significant step in reducing the financial burden of state-owned enterprises . Gohar Ejaz, a member of the new board, congratulated the nation, describing the transaction as Pakistan’s first major privatisation in 20 years .