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PIA to be run by Arif Habib-led consortium by April 2026 | The Express Tribune
The national flag carrier, Pakistan International Airlines (PIA), is expected to be run by a new owner from April 2026. It will also receive fresh capital under a deal to privatise the airline, the country’s privatisation chief said on Wednesday.
A consortium headed by the Arif Habib Corporation emerged as the top bidder on Tuesday, in a live-televised auction for a 75% stake in PIA. This marks a breakthrough for the government’s long-delayed privatisation of the carrier.
The consortium offered Rs135 billion, surpassing the government’s reserve price of Rs100 billion – a turnaround from last year’s failed sale attempt.
Read: Govt finally cuts loose ‘white elephant’ PIA
Adviser to the Prime Minister on Privatisation, Muhammad Ali, told Reuters in an online interview that the state expects a new owner to be running the airline by April next year. The process moves to final approvals by the Privatisation Commission board and cabinet, expected within days, with contract signing likely within two weeks.
Financial close is also expected after 90 days to meet regulatory and legal conditions.
Ali said the government would receive Rs10 billion, in cash, upfront, retaining a 25% stake valued at around Rs45 billion. The deal was structured to inject fresh capital into the airline rather than simply transfer ownership, he said.
“We did not want a situation where the government sells the airline, takes its money, and the company still collapses,” Ali said. The winning consortium also comprises fertiliser maker Fatima, private school network City School and real estate firm Lake City Holdings Limited.
Ali said Fauji Fertiliser Company, a military-run conglomerate, did not bid but could still join the winning consortium as a partner, noting the buyer can add up to two partners – including a consortium partner or a foreign airline – if they meet the qualifying criteria.
Allowing partners adds financial strength and could bring global aviation expertise, he said.
IMF pressure
Ali said safeguards, including retained earnest money and an additional payment on signing, would allow the government to move to the second-highest bidder if the deal fails to close.
On labour, he said the buyer must retain all employees for 12 months after the transaction, with contracts unchanged, adding that the PIA workforce has already shrunk in recent years.
The sale is closely watched by the International Monetary Fund (IMF), which has pressed Pakistan to halt losses at state-owned enterprises. Ali termed the privatisation a key test of Pakistan’s reform credibility with the IMF, adding that failure to offload loss-making state firms risked renewed pressure on public finances.
He said closing the deal would signal momentum on reforms and privatisations, adding that the government was working through a pipeline of future transactions once PIA closes.
Business
Without Rera data, real estate reform risks losing credibility: Homebuyers’ body – The Times of India
New Delhi: More than 75% of state real estate regulators, Reras, have either never published annual reports, discontinued their publication or not updated them despite statutory obligation and directions from the housing and urban affairs ministry, claimed homebuyers’ body FPCE on Friday. It released status report of 21 Reras as of Feb 13.The availability of updated annual reports is crucial as these contain details of data on performance of Reras, including project completion status categorised by timely completion, completion with extensions, and incomplete projects. The ministry’s format for publishing these reports also specifies providing details such as actual execution status of refund, possession and compensation orders as well as recovery warrant execution details with values and list of defaulting builders.FPCE said annual report data is not only vital for homebuyers to assess system credibility, but is equally necessary for both state and central govts to frame effective policies, design incentivisation schemes, and develop tax policy frameworks.“Unless we have credible data proving that after Rera the real estate sector has improved in terms of delivery, fairness, and keeping its promises, we are merely firing in the air,” said FPCE president Abhay Upadhyay, who is also a member of the govt’s Central Advisory Council on Rera.As per details shared by the entity, seven states — Karnataka, Tamil Nadu, West Bengal, Andhra Pradesh, Himachal Pradesh and Goa — have never published a single annual report since Rera’s implementation, and nine states, including Maharashtra, Uttar Pradesh and Telangana, which initially published reports, have discontinued the practice.Upadhyay said when regulators themselves don’t follow the law, they lose the legal right to demand compliance from other stakeholders. “Their failure emboldens builders and weakens the very system they are meant to safeguard,” he said.
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Over recent quarters, payouts had gradually improved from roughly 65 percent to 80 percent and now to an average of about 85 percent in Q3FY26.
Infosys logo is seen.
IT major Infosys rolled out performance bonus payouts averaging around 85 percent for the quarter ended December 31, 2025 (Q3FY26), marking the strongest variable pay outcome for eligible employees in at least the past three-and-a-half years, Moneycontrol reported citing people in the know.
The bonus payout for mid- to junior-level employees ranges between 75 percent and 100 percent, with most employees clustering around the organisation-wide average of 85 percent, the report said. The development signals a steady recovery in variable compensation at the Bengaluru-headquartered IT services firm. Over recent quarters, payouts had gradually improved from roughly 65 percent to 80 percent and now to an average of about 85 percent in Q3FY26.
Employees are expected to receive their bonus letters over the next few days, with the payout scheduled to be credited along with their February salary.
One employee told the outlet that it is the strongest bonus outcome seen in recent years. The payout is also among the rare instances since the Covid-19 period when variable pay has approached the upper end of the eligible range.
Infosys last paid out 100 percent variable compensation during the pandemic. In the quarters that followed, payouts were lower amid macroeconomic uncertainty and a broader slowdown in client spending across global markets.
The higher payout comes at a time when global IT stocks have faced renewed pressure, driven by concerns over rapid advances in artificial intelligence and their potential impact on traditional IT services models.
Shares of global IT firms have seen sharp sell-offs in recent weeks amid heightened investor focus on AI leaders such as Anthropic. Investors fear that generative AI tools could compress pricing, automate routine services work and reduce demand for legacy outsourcing models.
Against that backdrop, the improved bonus payout at Infosys is being viewed as a signal of operational resilience and near-term performance strength, even as sentiment around the broader IT sector remains cautious.
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February 13, 2026, 21:44 IST
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