Only performing employees will stay in PIA, says Arif Habib

KARACHI: Renowned businessman Arif Habib, who recently acquired a 75 per cent stake in Pakistan International Airlines (PIA) for Rs 135 billion, said on Thursday that staff retention at the carrier will be based on performance as the airline will focus on profitability.

“Only those who perform will remain in PIA,” Habib told reporters at a Pakistan Cricket Board inter-schools final in Karachi’s Naya Nazimabad district. Making PIA profitable was his “top priority”, he said.

Habib said employees would be given job security but added that performance would determine future roles.

He said PIA’s workforce had helped the airline become one of the world’s leading carriers in the past.

He said that under the acquisition agreement the airline’s name cannot be changed.

Habib said about 14 million Pakistanis live overseas and that, including their families in Pakistan, more than 70 million people are linked to international travel.

He said that his consortium would seek to make PIA the preferred choice for Pakistanis, noting the airline’s role in Hajj and Umrah operations.

Habib said promoting sports within PIA was also a priority, but the restoration of sports activities at the airline would take time.

A consortium led by Arif Habib Group was earlier declared the highest bidder in the privatisation process.

Fauji Fertiliser Company later decided to join the winning consortium, Habib said, adding that discussions were under way on the terms of participation.

FFC had initially been among four prospective bidders for the PIA stake but withdrew before the submission of final bids.

Under Pakistan’s privatisation rules, firms that exit during bidding may later join the successful consortium if they meet eligibility criteria set by the Privatisation Commission.

Web Desk