City Manager staged protests [10 sources]
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City Manager rejected overtures in Cincinnati [6 sources]
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KARACHI: The Arif Habib-led consortium has established a special purpose vehicle, PIA Equity Ltd (PIAEL), to complete its acquisition of Pakistan International Airlines, Arif Habib Corporation Ltd (AHCL) announced on Thursday. The consortium has submitted a standby letter of credit and a bank guarantee to the Privatisation Commission for the acquisition of the remaining 25 per cent shares of PIA. The consortium has already acquired a 75pc stake in Pakistan International Airlines Corporation Ltd (PIACL) for Rs135 billion, while the remaining 25pc will cost Rs45bn. The consortium is expected to assume full ownership within the next 12 months upon completion of payments. PIA Equity Ltd’s shareholding comprises Arif Habib Corporation Ltd, Fatima Fertiliser Company Ltd, Lake City Holdings, AKD Group, The City School Group, and Fauji Fertiliser Company Ltd. PIAEL will act as the central platform for the acquisition and future management of PIACL, bringing together institutional investors under a unified structure. The management changes and full private control was expected by early next month, freeing the airline from government-appointed board members. Thousands of workers of PIA could be problematic for the new management as there is resistance among the workers regarding complete privatisation as their jobs may be at stakes. Published in Dawn, May 1st, 2026
Concord has implemented a 1,000-foot limit on new dead-end streets to protect resident safety during severe weather events. Deputy City Manager Matthew Walsh explains that longer dead-end roads could trap residents and homes during emergencies, making this restriction necessary for community protection.