Arif Habib is widely regarded as one of Pakistan’s most influential business leaders — a self-made financier whose career mirrors the evolution of the country’s capital markets. By December 2025, he cemented his legacy by leading the successful acquisition of Pakistan International Airlines (PIA), one of the most complex and symbolic privatization deals in Pakistan’s history.
Who is Arif Habib?
Early life of Arif Habib and how he reached the pinnacle of success
Born in 1953 in Karachi into a Memon family, Arif Habib’s journey is a classic story of grit and foresight. With formal education only up to matriculation, he entered professional life early. At just 17 years old, he began working as a stockbroker at the Karachi Stock Exchange, earning a modest salary of Rs 60 per month.
What set Habib apart was his ability to read market cycles when others hesitated. His reputation as a “market visionary” was firmly established in 1998, when he made bold investments during the stock market crash following Pakistan’s nuclear tests. While many investors pulled back, Habib saw opportunity — a decision that paid off handsomely and laid the foundation for his financial empire.
Building the Arif Habib Group
Over the decades, Habib transformed a small brokerage operation into the Arif Habib Group, one of Pakistan’s most diversified conglomerates. Today, the group has a strong presence across financial services, fertilizers, steel, cement, real estate, and energy.
His leadership roles are equally impressive. Habib has served as President of the Karachi Stock Exchange six times and was a founding member of the Central Depository Company (CDC), playing a key role in modernizing Pakistan’s financial infrastructure.
The Defining Moment: PIA Privatization
The acquisition of PIA in December 2025 stands as the crowning achievement of his career. Leading a consortium, Arif Habib won a Rs 135 billion bid in a highly competitive, televised auction, securing a 75% controlling stake in the national airline.
Read more: Arif Habib consortium buys PIA for Rs 135 billion
Beyond the purchase price, the group committed Rs 80 billion over five years to modernize operations, expand the fleet, and restore the airline’s competitiveness. Habib has pledged to grow PIA’s fleet from 18 aircraft to 38 in the first phase, with a longer-term target of 65 aircraft, while ensuring job security for employees during the transition.
A Broader Vision for Aviation
Even before the PIA deal, Habib had shown interest in aviation through Air Karachi, a new private airline backed with initial funding of Rs 5 billion. Together, these ventures signal a broader shift — one where private Pakistani capital steps in to start the restructuring of critical national institutions.
Arif Habib’s story is not just about wealth, but about confidence in Pakistan’s future — a belief that bold decisions, taken at the right time, can change the course of institutions and industries alike.