PIA Plans to Expand Fleet to 60 Aircraft: Arif Habib

Businessman and investor Arif Habib said efforts to revive Pakistan International Airlines Corporation Limited (PIACL) are progressing, with an investor consortium working to appoint a new senior management team. He said the airline's fleet is planned to expand to 60 aircraft over the next 10 years in phases.

 

Speaking after the SECP Talk Series on Thursday, Habib welcomed the sales tax exemption granted to PIA under the Finance Act 2026, describing it as part of the airline's privatization process. He said the appointment of experienced management and the addition of new aircraft would significantly improve the airline's performance, while clarifying that a new CEO has not yet been appointed.

 

Habib also maintained that PIA's core airline business is profitable and that its foreign properties have been transferred to the holding company as part of the restructuring process.

 

Commenting on the broader economy, he said high energy costs and heavy taxation remain major challenges for investors, arguing that lower taxes and cheaper electricity would encourage investment and improve industrial activity. He also criticized power purchase agreements with Independent Power Producers (IPPs), saying they have contributed to high electricity costs.

 

Habib expressed confidence in Pakistan's long term economic outlook, highlighting the Pakistan Stock Exchange's strong historical returns and emphasizing the importance of promoting investment awareness, strengthening corporate governance, and deepening the country's capital markets.