Arif Habib, who bought Pakistan’s national airline PIA.
The bid for Pakistan’s national airline PIA has been won by a business group headed by Mohammad Arif Habib. This news was especially discussed in the Indian media because this family originally belonged to Bantwa town of Junagadh district of Gujarat and reached Pakistan after partition. Today the same family has bought Pakistan’s biggest airline through auction. This is not just a business deal, but the story of a long journey spanning from Gujarat to Karachi.
Arif Habib’s family originally comes from a town called Bantwa, which is in today’s Junagadh district (Gujarat). Bantwa was once a part of the princely state named Manavadhar during the princely period and remained under the influence of the Nawabi princely state of Junagadh. There was a large population of Mevani and Memon merchant community here, which was famous for maritime and wholesale trade. Arif Habib’s family belongs to this Memon business community.
The elders of the family were involved in tea trade and general wholesale trade in Bantwa itself. Some reports state that his ancestors had many properties there and a well-run business, which was a well-known name in Bantwa and surrounding areas.
Which occupation was the family associated with in India?
Before partition, Kathiawar, Saurashtra region was an active center in terms of trade. The Memon families settled in areas like Bantwa and Junagadh were generally involved in wholesale trade of tea, grains and spices, textile and cotton business, and some real estate. In the same tradition, Arif Habib’s family also made its mark in tea and other commodity trade.
This was the period when the family business was mainly associated with cities like Bantwa, Rajkot, Junagadh and Bombay (now Mumbai). Despite being from a small town, these traders used the sea route and railway network to send goods all over western India. Socially, it was considered a middle class but business minded family. Neither any Nawabi grandeur, nor zamindari; But rather a reputation for hard work, bargaining and honest business.
How and when did the family reach Pakistan?
India was partitioned in the year 1947. Kathiawar and Junagadh areas were surrounded by political uncertainty at that time. Junagadh first announced its merger with Pakistan, then joined India after public opinion and military action. During this period of turmoil, many Muslim business families, especially those from the Memon community, considered moving to Karachi a safe route. One of these was the family of Arif Habib.
After partition, around 1947-48, the family left their home in Bantwa and Junagadh areas and moved to Pakistan. The elders of the family could take with them only as much goods and capital as was possible for the journey; Most of the property, shops and houses were left in India. After reaching Karachi, these people settled in those areas of the old city, where even today there is a sizeable population of Gujarati speaking Mohajir and Memon communities. Here, in Karachi, a few years later, around 195253, Mohammad Arif Habib was born. Thus, he is Pakistani by birth, but his roots are firmly rooted in Junagadh Bantwa of Gujarat.
Arif Habib started working in Karachi Stock Exchange at the age of 17.
Started with a humble job in Karachi
After Hijrat the family had to start all over again. The comfortable conditions and established trade that existed in India were all left behind. In the early years in Karachi, the family survived through small-scale trading and daily earnings. The children were educated in ordinary government schools. Initially the economic situation was not very good. Growing up in such an environment, Arif Habib started learning the trade from an early age. He studied till intermediate, but considering the condition of his family, he had to join work early. At the age of just 17, around 1970, he started working as a junior employee at the Karachi Stock Exchange (KSE), doing odd jobs like delivering letters and carrying orders. From here the real direction of his life changed.
From stock market to business empire
Arif Habib learned the behavior of the stock market, government policies, investor attitudes and risk management very closely while living in the streets of the stock exchange. Within a few years he transformed from an ordinary employee to an active stock broker and then established his own brokerage firm. Later, he became the Chairman of Karachi Stock Exchange several times. He is considered to have played an important role in improving the computerization, risk management and regulation of the exchange.
His name came to be known as a major architect in the development of Pakistan’s capital market. With time, his brokerage firm transformed into a big business house, Arif Habib Group, whose business is spread across many sectors today. Now the group is active in the fields of financial services and brokerage, cement and steel, real estate, fertilizers and chemicals, energy and infrastructure.
This step has been taken to reduce the losses and debt of Pakistan International Airlines (PIA).
Gujarati origin family buys Pakistan airline
In December 2025, the Government of Pakistan opened bidding for the privatization of Pakistan International Airlines (PIA). According to media reports, a consortium led by Arif Habib Corporation made the highest bid of approximately Pakistani rupees 135 billion for a 75% stake in PIA. This is believed to be the first major privatization deal in Pakistan after almost two decades. As per the terms of the bid, a major portion of the bid amount will go directly into PIA as investment to reduce the airline’s losses and debt. Along with Arif Habib Corporation, some other big Pakistani business groups are also included in this consortium. These include Fatima Fertilizer, City School, Lake City Holdings etc.
Two countries, one heritage but the fragrance of Gujarati soil is still with us
Although today Arif Habib is a big name in Pakistani industry, his cultural and emotional roots are considered to be in Gujarat only. The elders of the house still speak Gujarati, Kathiawadi dialect, there is a glimpse of Gujarat in the food and customs and Bantwa, Junagadh, Saurashtra are often mentioned in the family stories. This story is also an example of the fact that even if borders and political divisions change, the roots of societies and families often remain connected on both sides.
Also read: Why did it snow in Saudi Arabia after 33 years? The pain of winter in the scorching heat of the desert