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PIA SOLD FOR RS135B; ARIF HABIB GROUP OUTBIDS LUCKY IN OPEN AUCTION Wednesday, 24 December, 2025 | 3 Rajabul Murajjab, 1447
ARIF HABIB CONSORTIUM WAS THE HIGHEST INITIAL BIDDER, ENTERING OPEN AUCTION AT RS115B
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GOVT’S MINIMUM EXPECTED PRICE WAS RS100B, LUCKY AND ARIF HABIB CONSORTIA ENTERED OPEN AUCTION
‘promise fulfilled’: pM hails pia privatization as milestone for ‘economic overhaul’
staff report
FTER a competitive open auction between the respective consortia led by Lucky group and Arif Habib group. The Pakistan International Airlines has finally been sold to Arif Habib consortium for Rs 135 billion. The open auction for 75% of PIA started at Rs 115.25 billion, Rs 250 million above the highest initial bid, made by the Arif Habib Consortium. The Lucky Cement consortium’s Rs 115.25 was met with incrementally higher bids from Arif Habib consortium. At Rs 121 billion, forwarded by AHL group, Lucky consortium opted for a 30 minute break. After the break, the increments increased significantly. When the eventual bid reached Rs 134 billion by Lucky consortium. A whopping Rs 135 billion by Arif Habib group was not met with a further bid by Lucky. The consortium led by Arif Habib
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ISLAMABAD
staff report
Limited contains strong business and corporate entities like, Arif Habib Corporation Limited, Fatima Fertiliser Company Limited, City Schools (Private) Limited, and Lake City Holdings (Private) Limited. The winning consortium will now have to option to buy the remaining 25% of the PIA within the next 90 days. The Bidding Process: Earlier, the sealed bids for the sale of 75% stake in PIA were opened and minimum expected price of the government was revealed at the public event
Prime Minister Muhammad Shehbaz Sharif on Tuesday congratulated the nation on the successful conduct of bidding for the privatization of 75% shares of Pakistan International Airlines (PIA), terming the process a landmark achievement and reaffirming the government’s commitment to transparency, economic reform, and strengthening investor confidence. He described PIA’s privatization as a crucial milestone in the broader agenda of reforming state-owned enterprises and sta-
held in Islamabad. The bidding for the national carrier was then supposed to go into open auction. Starting at a high, the
CdF Field Marshal Munir warns against ‘subtle tactics’ employed by hostile actors RAWALPINDI
staff report
Rs 50.00 | Vol XVI No 169 | 48 Pages | Lahore Edition
Chief of Defence Forces (CDF) and Chief of Army Staff Field Marshal Asim Munir on Tuesday warned of “indirect and ambiguous approaches” employed by actors hostile to Pakistan, including the use of proxies, stressing that future leaders must be trained and remain alert to recognize, anticipate and counter such multi-layered cognitive challenges, said the military’s media wing.
According to a statement by the Inter-Services Public Relations (ISPR), the CDF was briefed by civil and military participants of the ongoing national security and war course about their academic perspectives on challenges to national security during a visit to Islamabad’s National Defence University (NDU). “The field marshal highlighted that hostile elements increasingly employ indirect and ambiguous approaches, including the use of proxies to exploit internal fault lines, rather than overt confrontation,” the ISPR said.
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bilizing the national economy. “Upon assuming office, I had promised the nation that steps would be taken for the privatization of state-owned enterprises; this process of PIA’s privatization is a very important milestone in this regard,” the prime minister said in a statement issued by the Prime Minister’s Office (PMO). He added that, “By the grace of Allah, the bidding process was extremely transparent,” emphasizing that privatization of PIA and other stateowned enterprises would play a pivotal role in restoring investor confidence and further stabilizing the economy.
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initial bid price offered by Lucky Cement consortium, was Rs 101.5 Billion.
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Pakistan, Bahrain naval chiefs discuss regional maritime security, bilateral cooperation RAWALPINDI
staff report
Strengthening bilateral naval ties and reaffirming commitments to regional maritime security, Commander of the Royal Bahrain Naval Force, Rear Admiral Ahmed Mohamed Ebrahim Al Bin Ali, visited Pakistan’s Naval Headquarters in Islamabad on Tuesday and called on Admiral Naveed Ashraf, NI, NI (M), Chief of the Naval Staff (CNS), according to the military’s media wing. In a statement, the Inter-Service Public Relations (ISPR) said, “Upon arrival, Rear Admiral Al Bin Ali was received by the CNS, and a smartly turned-out contingent of the Pakistan Navy presented a Guard of Honour to the visiting dignitary.” He also laid a floral wreath at the Shuhada Monument to pay homage to the martyrs of the Pakistan Navy. During the high-level meeting, both sides discussed matters of mutual interest, regional maritime security and explored avenues for bilateral naval cooperation. They reaffirmed their commitment to further enhance professional interaction and defence collaboration between the two navies, the statement said. The visit underscores the strong and friendly relations between Pakistan and Bahrain and reflects a shared resolve to promote peace and stability in the region. Commander Bahrain Naval Force calls on Defence Minister In a related development, Rear Admiral Al Bin Ali also called on Minister for Defence Khawaja Muhammad Asif. During the meeting, the defense minister highlighted the longstanding brotherly relations between Pakistan and Bahrain and reaffirmed Pakistan’s continued support for Bahrain across all domains, according to an official press release.