KARACHI: After acquiring a controlling stake in Pakistan International Airlines, prominent businessman Arif Habib has signalled plans to explore investment opportunities in Pakistan’s blue economy, including potential engagement with the Pakistan National Shipping Corporation (PNSC), highlighting renewed private-sector interest in the country’s maritime sector.
Speaking to journalists at Naya Nazimabad Gymkhana on Sunday, Habib said the newly appointed PNSC management had invited him for discussions on the corporation’s future. He described the sustainable commercial use of ocean resources as a largely untapped area for Pakistan, with official estimates placing its potential value at more than $100 billion, while contributing less than 0.5 per cent to national GDP.
Industry data indicate that PNSC plans to expand its fleet from the current 10 vessels to 54 ships by 2030, aiming to reduce reliance on foreign shipping lines and capture a greater share of nearly $6 billion Pakistan pays annually in overseas freight charges.
PIA revival plan outlined
Habib also outlined his consortium’s roadmap for reviving Pakistan International Airlines (PIA), saying the airline’s full fleet of 34 aircraft is expected to be operational by September 2026. At present, only 17 aircraft are serviceable, he said.
The consortium, which acquired a 75 per cent stake in PIA for Rs135 billion ($482 million), is scheduled to assume management control in April 2026. The transaction represents one of Pakistan’s largest privatisation deals in recent years as the government moves to offload loss-making state-owned enterprises.
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According to Habib, Rs125 billion of the acquisition amount will be injected directly into the airline to fund engine replacement, aircraft maintenance, operational expenses, and fleet expansion. Existing liabilities of around Rs54 billion will also be absorbed as part of the turnaround plan.
He said the immediate focus would be on improving service quality while maintaining competitive fares and expanding the operational fleet to 38 aircraft in the short term. Recruitment will be merit-based, he added, with safety and maintenance standards remaining a priority. The plan also includes measures to strengthen cargo operations.
Habib noted that earlier attempts to privatise PIA had failed due to management challenges and unfavourable economic conditions. He said recent improvements in macroeconomic indicators — including easing interest rates, relative currency stability, and lower fuel prices — had helped create a more conducive environment for the sale.
This report is based on information originally published by Business Recorder.
