logo
Pakistan's Air Karachi in talks with Chinese jetmaker for aircraft as it gears up for operations

Pakistan's Air Karachi in talks with Chinese jetmaker for aircraft as it gears up for operations

Arab News26-07-2025
KARACHI: Air Karachi, Pakistan's new private airline in the making, has engaged the Commercial Aircraft Corporation of China (COMAC) for the supply of airliners to start its flight operations, the group chairman Hanif Gohar told Arab News on Friday.
Spearheaded by a group of leading businessmen from Pakistan's southern port city, the airline is also negotiating with global aerospace giants like Boeing and Airbus for the acquisition of at least three passenger aircraft. It was launched in November 2024 by 100 stakeholders with Rs5 billion ($17.6 million) in seed money.
'We are talking with COMAC regarding the 919, as well as with Boeing and Airbus, to acquire the aircraft,' Gohar said, referring to a narrow-body passenger jet developed by China.
Business leaders in the South Asian nation have stepped up to fill the gap as the state-run Pakistan International Airlines (PIA) has become a liability for the cash-strapped government, which is now making a second attempt to privatize the national carrier.
'We will start our flight operations as soon as we reach an agreement with any of the suppliers, whoever comes first,' Gohar said when asked about the timeline to start operations.
Gohar, a business tycoon himself, expects a deal within the next month.
He said Air Karachi would initially fly three aircraft domestically, and the fleet would later be expanded with four more planes to start international flights within a year.
The idea to launch a business-backed airline was conceived to develop an entity that can operate with efficiency and financial autonomy amid growing challenges faced by PIA.
Last month, Air Karachi received its Regular Public Transport (RPT) license from Pakistan's Civil Aviation Authority.
The airline has been modeled after the success of Air Sial, another private carrier launched by industrialists in Sialkot, the manufacturing hub of Pakistan's exportable sports and surgical goods.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Pakistani tribunal upholds ruling against Gulf-bound worker medical centers for price fixing
Pakistani tribunal upholds ruling against Gulf-bound worker medical centers for price fixing

Arab News

time2 minutes ago

  • Arab News

Pakistani tribunal upholds ruling against Gulf-bound worker medical centers for price fixing

ISLAMABAD: Pakistan's competition appeals tribunal has upheld a ruling against 20 medical centers and laboratories that colluded to fix prices and allocate customers for mandatory pre-departure health tests of workers bound for Gulf countries, the competition regulator said on Friday. The case involves a captive market of low-income Pakistani laborers headed mainly to Saudi Arabia, Qatar, Oman, Bahrain and Kuwait. Under the rules, these workers must undergo tests at centers approved by the Gulf Approved Medical Centers Association (GAMCA), a network of clinics authorized by Gulf states to carry out the mandatory checks. The regulator found the centers and their five regional associations divided customers on a rotational basis, eliminating competition on price and service quality, and in some cases charging for unnecessary repeat tests. 'The CCP's investigation concluded that fee fixation, territorial division and equal allocation of customers by GAMCAs violated the Competition Act, 2010,' the Competition Commission of Pakistan (CCP) said in a statement. 'Any anti-competitive conduct will be dealt with strictly under the competition law,' it quoted its chairman, Dr. Kabir Sidhu, as saying. The competition appeals tribunal upheld the findings but reduced the penalties from 20 million rupees ($70,000) per medical center and 10 million rupees ($35,000) per GAMCA to 2 million rupees ($7,000) percenter and 1 million rupees ($3,500) per GAMCA. The CCP launched its inquiry after a complaint from the Pakistan Overseas Employment Promoters Association, which represents manpower exporters.

Pakistan signs financial advisory deal to privatize state-owned agricultural bank
Pakistan signs financial advisory deal to privatize state-owned agricultural bank

Arab News

timean hour ago

  • Arab News

Pakistan signs financial advisory deal to privatize state-owned agricultural bank

ISLAMABAD: Pakistan has signed a financial advisory services agreement to begin the strategic privatization of Zarai Taraqiati Bank Limited (ZTBL), the country's largest state-owned agricultural lender, the privatization commission said on Friday. The move comes as Islamabad faces pressure to privatize loss-making or under-performing state-owned enterprises under International Monetary Fund loan agreements in recent years. The government expects the sell-off drive to improve efficiency by putting such entities under competitive, corporate management. ZTBL's privatization comes at a time when Pakistan is striving to bolster food security in the face of extreme climate patterns by modernizing agricultural finance, helping farmers adopt new technologies and practices critical for boosting yields and resilience. 'The privatization of ZTBL is designed to catalyze investment in Pakistan's agricultural future by combining private sector efficiency with the bank's long-standing expertise in agricultural finance,' the commission said in a statement. 'The goal is to ensure farmers have timely access to essential financial resources.' It signed the financial advisory services agreement with a consortium led by Next Capital Limited. ZTBL operates a network of more than 500 branches nationwide, providing credit to small farmers and rural communities. Officials said private investment was expected to expand the bank's product range, introduce modern banking technologies, improve governance and strengthen customer service. Under the newly signed agreement, advisers will conduct due diligence, market sounding and investor engagement, as well as structure and market the transaction and assist in a transparent bidding process.

Pakistan, US step up investment talks, move toward joint counterterrorism plan
Pakistan, US step up investment talks, move toward joint counterterrorism plan

Arab News

time3 hours ago

  • Arab News

Pakistan, US step up investment talks, move toward joint counterterrorism plan

KARACHI: Senior Pakistani and US officials on Friday discussed next steps in economic investment and the development of a joint counterterrorism strategy in meetings aimed at deepening economic and defense ties between the two countries. Pakistan's commerce ministry said earlier this week it had finalized a strategy to implement a recently negotiated tariff deal with the United States that Islamabad hopes will unlock US investment. Announced last month, the agreement set a reduced tariff rate of 19 percent on Pakistani imports — the lowest in the region — and is expected to revive bilateral trade while opening the way for US firms to participate in various Pakistani economic sectors. In talks with US Chargé d'Affaires Natalie Baker in Islamabad, Finance Minister Muhammad Aurangzeb said Pakistan's economy had 'turned a corner' after a prolonged downturn, a shift recognized by three major international rating agencies. 'The Minister emphasized that the [trade] agreement would usher in a new era of economic collaboration — particularly in energy, mines and minerals, IT, cryptocurrency and other sectors — while expanding market access, attracting investment and fostering cooperation in areas of mutual interest,' the finance ministry said in a statement released after the meeting. 'He expressed hope that the deal would lead to increased US investment in Pakistan's infrastructure, development projects and digital and mining sectors, which were ready for tangible action and progress,' it added. Aurangzeb thanked Washington for its continued economic and development support and recalled recent meetings in the US with senior officials to finalize the trade deal. In a video message after last month's announcement, he had noted Pakistan's goal was always to move 'beyond the immediate trade imperative,' calling the US-Pakistan pact 'a real win-win situation' for both nations. Pakistan, he added, had 'come a long way' in its overall strategic partnership with the US. COUNTERTERRORISM PLAN Separately, Interior Minister Mohsin Naqvi met US Coordinator for Counterterrorism Gregory LoGerfo in Islamabad to discuss closer cooperation to fight militant violence, and to work jointly on border security and anti-narcotics efforts. Pakistan and the US have shared a defense relationship dating back to the Cold War era, collaborating over decades on regional stability and counterinsurgency in Afghanistan. The latest talks between Naqvi and LoGerfo came days after Washington designated the separatist Baloch Liberation Army (BLA) and its Majeed Brigade faction as 'terrorist' organizations. Both have carried out coordinated attacks in Balochistan targeting security personnel, civilians and foreign nationals working on major development projects. 'Naqvi added that counterterrorism dialogue will help in creating a joint strategy,' the interior ministry said in a statement. 'He termed the US decision to designate the banned BLA and banned Majeed Brigade as Foreign terrorist organizations a commendable step, expressing hope that Pakistan-US cooperation will yield positive results in eliminating terrorism.' Naqvi also noted that bilateral ties had improved since President Donald Trump took office, citing transparency, mutual trust and cooperation as the hallmarks of the relationship and called it an opportune time to strengthen engagement in all areas.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store