According to Business Recorder, the decision to become part of the Arif Habib consortium was approved by the Fauji Fertiliser Company’s board of directors during a recent meeting.

The Privatisation Commission approved the qualification statement of Fauji Fertiliser Company in July 2025, after which the company became eligible to participate in the bidding process for a majority stake in PIA.

Later, in the auction held on December 23, 2025, a consortium led by Arif Habib Corporation placed the highest bid and secured the right to acquire a 75 per cent stake in PIA.

In addition to Fauji Fertiliser Company, the consortium includes Fatima Fertiliser Company Limited, Lake City Holdings (Private) Limited, AKD Group Holdings (Private) Limited, and The City Schools (Private) Limited.

The FFC board has also authorised the company to sign all necessary agreements and documents with the consortium, the Privatisation Commission, and other relevant parties.

According to the report, Fauji Fertiliser may acquire its stake in PIA either directly or through a special purpose vehicle.

It may be noted that the transaction has not yet reached final completion.

The deal remains subject to the issuance of a Letter of Acceptance by the Privatisation Commission, the execution of final agreements among all parties, and the completion of all required regulatory, corporate, and legal approvals.