Karachi: (Right Now News) Pakistan’s renowned businessman Arif Habib has stated that PIA will become a profitable entity in its first year post-privatization. Only profitable routes will be operated.

Arif Habib revealed that 66% of the shares have been paid, while the remaining 34% will be paid within a year. He mentioned that under the agreement, no employee will be laid off for a year.

He further added that PIA’s fleet currently consists of 19 aircraft, which will be increased to 60 over the next five years. The number of employees will also be increased.

Arif Habib stated that 4 to 5 aircraft from the current fleet will return to service after repairs. Additionally, 5 new aircraft will be added this year.

It is noteworthy that the Arif Habib consortium recently acquired PIA. Efforts are ongoing to make the organization profitable.