Renowned businessman and investor Arif Habib has said that efforts to revive Pakistan International Airlines Corporation Limited (PIACL) are progressing, with an investor consortium working to appoint a new senior management team as part of the airline's privatization process.

Speaking to the media after an SECP Talk Series in Islamabad, Habib said the consortium plans to expand PIA's fleet to 60 aircraft over the next 10 years through a phased approach. He added that the recently approved sales tax relief for PIA under the Finance Act 2026 supports the privatization process and is expected to facilitate the airline's restructuring.

Habib clarified that a new CEO has not yet been appointed, but expressed confidence that improved leadership and fleet expansion would significantly enhance the airline's operational performance. He also noted that PIA's core airline business is profitable, while its foreign properties have been transferred to the holding company.

Commenting on the broader economy, Habib highlighted high energy costs and elevated taxation as the biggest challenges facing investors. He urged the government to reduce electricity tariffs and corporate taxes to improve industrial competitiveness and encourage investment, noting that many industries continue to operate below capacity.

On Pakistan's capital market, Habib reaffirmed his optimism, stating that the Pakistan Stock Exchange (PSX) has generated an average annual return of around 22% in rupee terms and 14% in US dollar terms over the long run. He emphasized the need to promote financial literacy and encourage greater participation, particularly among young investors.

Addressing the event, SECP Chairman Dr. Kabir Ahmed Sidhu reaffirmed the regulator's commitment to fostering a transparent, efficient, and investor-friendly capital market through continued reforms and stronger collaboration with market participants.