Pakistan’s national carrier, Pakistan International Airlines (PIA), has been sold to the Arif Habib Consortium for a staggering 13.5 trillion rupees. The sale is seen as a significant milestone in the country’s economic recovery, with Minister of Defense Khawaja Muhammad Asif stating that it boosts investor confidence in the national economy. Asif, in a statement, said that the sale of PIA through privatization would save the government from massive losses, estimated to be in trillions of rupees, and expedite the economic recovery process. The minister further added that the country’s economy has seen a remarkable turnaround, from a mere 10…
Author: Web Desk
Article: In a significant move, the Punjab Assembly has passed a resolution to ensure the protection of the Quran’s pages. The resolution was presented by government member Pir Ashraf Rasool. The resolution emphasizes the need for Deputy Commissioners in all districts to take steps to safeguard the holy scriptures. Meanwhile, the Punjab Assembly also passed a motion to honor Chief of Defense Forces and Chief of Army Staff General Asim Munir. The motion was presented by government member Ahmad Shah Yara. The resolution states that the assembly considers the decision to sentence Justice Faiz Hamid a victory for justice’s supremacy.…
Pakistan’s Prime Minister Shehbaz Sharif has expressed gratitude and extended congratulations to the nation on the successful privatization of the Pakistan International Airlines (PIA). In a statement, the Prime Minister said that the government had promised to undertake steps for the privatization of state-run institutions, and the PIA’s privatization is a significant milestone in this regard. The PIA was sold to the Arif Habib Consortium for a whopping 135 billion rupees at a transparent bidding process. The Prime Minister stated that the transparent process of the auction is a testament to the government’s commitment to good governance. He further added…
Pakistan’s Minister for Energy, Ahsan Iqbal, has stated that the successful bid by the Arif Habib Consortium marks a significant sign of the revival of Pakistan’s economy. In a statement, Ahsan Iqbal said that the successful bid of Rs 135 billion is a testament to the confidence of investors, marking the completion of the historic privatization phase under the leadership of Prime Minister Shahbaz Sharif. Arif Habib Group Chairman Arif Habib stated that they will work towards reviving the Pakistan International Airlines (PIA) to its former glory. The successful bid is a significant achievement, marking the completion of the privatization…
Pakistan’s Lohdaran Session Court has concluded a high-profile case of child abuse in Kehrodpka. The court handed down life imprisonment to two accused and a fine of 15 million rupees. The third accused was sentenced to five years in prison and fined 10 million rupees. According to local police, the accused targeted a 13-year-old boy in 2023. Eyewitnesses reported that the incident occurred due to high speed, and the injured were rushed to the hospital. This case has raised questions from international media and Western sources regarding India’s narrative. Pakistan Bar Council member Ahson Bhoon has expressed concerns over Punjab…
Article: Pakistan’s Finance Adviser, Muzammil Aslam, has expressed his concerns over the privatization of the national airline, Pakistan International Airlines (PIA). In an exclusive interview with Geo News in Peshawar, Aslam stated that the government will only receive 7.5 percent of the revenue generated from the privatization of PIA. He further criticized the decision, saying that 7.5 percent of the revenue is barely enough to cover the consulting fees, while PIA’s outstanding debts of Rs. 700 billion have been transferred to the government’s account. The Finance Adviser suggested that the government should recover the debts by imposing additional taxes on…
Pakistan’s Punjab police have registered a case under the Anti-Rape Act against two sisters after they deviated from their statement. According to a police spokesperson, the woman had filed a false complaint against two individuals for alleged harassment and violence. However, during the court proceedings, both the accused and the complainant sisters deviated from their statement. The court, following the police investigation, acquitted both the accused individuals. The police stated that the sisters had wasted the court’s time by filing a false complaint. A rescue operation was conducted in response to a high-speed collision. Several injured individuals were shifted to…
Pakistan’s Parliament Lodges Reveal Expenditures of Up to 50 Million Rupees A recent revelation has shed light on expenditures of up to 50 million rupees on residential units in Pakistan’s Parliament Lodges. Members of the Senate House Committee’s sub-committee have stated that certain residential units in the Parliament Lodges have incurred costs of up to 50 million rupees. They claimed that the residents of the Parliament Lodges have expressed that the amount spent on the units has not yielded the desired results. The committee has recommended that those Parliament Lodges where repair work has been carried out should obtain a…
Pakistan International Airlines (PIA) is set to undergo significant changes after its purchase by the Arif Habib Group. In an exclusive interview with Geo News, Arif Habib, the chairman of the group, revealed that he had expected the bidding to reach up to Rs. 130 billion. “We have the capability to revive PIA,” Habib said during the interview. “We are open to including an international airline in the next phase, and we have already had preliminary discussions with some local airlines.” The group purchased PIA for Rs. 135 billion and has emphasized the need to acquire 100% shares, with Habib…
Pakistan’s national airline, Pakistan International Airlines (PIA), has been sold to a consortium led by Arif Habib for a whopping $1.35 billion, exceeding the government’s initial expectations of $1.2 billion. In a recent interview with Geo News, Adviser to the Prime Minister on Privatization, Muhammad Ali, expressed his satisfaction with the sale, calling it a “historic day” for Pakistan. “We were expecting a price of $1.2 billion, but the sale has exceeded our expectations,” Ali said. “This is a positive development for Pakistan, and we are confident that the consortium will take the airline to new heights.” The sale of…
