Islamabad
Fauji Fertilizer Company Limited (FFC) has announced that its Board of Directors has approved the company’s participation in the consortium declared as the highest-ranked bidder for the privatization of Pakistan International Airlines Corporation Limited (PIACL).
According to a disclosure sent to the Pakistan Stock Exchange (PSX) on December 24, 2025, FFC will join a consortium led by Arif Habib Corporation Limited, which also includes Fatima Fertilizer Company Limited, The Lake City Holdings (Private) Limited, AKD Group Holdings (Private) Limited, and City Schools (Private) Limited.
The Arif Habib consortium on Tuesday secured a 75 percent stake in PIAC with a winning bid of Rs. 135 billion, following an open auction round that marks Pakistan’s first major privatization in nearly twenty years.
The consortium was declared the top bidder by the Privatization Commission (PC) following the bidding process held on December 23.
The federal government will receive Rs. 10.2 billion of the money while the rest will be used on PIA. Moreover, the government is expected to save Rs. 35 billion in taxpayer money every year.FFC’s Board has authorized the company to finalize and execute all necessary agreements with the consortium and relevant parties, paving the way for FFC to acquire or subscribe to shares in PIACL, either directly or through a special purpose vehicle.
The company clarified that the completion of the transaction is still subject to several conditions, including the issuance of a Letter of Acceptance by the Privatisation Commission, execution of definitive agreements, and fulfillment of all required corporate and regulatory approvals.
