[3] Pasha Holding was founded by Arif Pashayev, the father of Mehriban Aliyeva (née Pashayeva), the first lady of Azerbaijan.

The ultimate shareholders of the company are Pashayev and the first daughters of Azerbaijan's authoritarian ruler Ilham Aliyev, Leyla and Arzu.

[15] In June 2024, Pasha Holding announced a possible IPO in 2025 at the Azerbaijani Stock Exchange, with a possible double listing in Dubai or Turkey.

[2] Critics like Transparency International have pointed out that Pasha Holding, a COP 29 "official partner", has close ties to the Aliyev family.

[16][17] Pasha Holding has been partnering with the Baku International Jazz Festival for more than ten years.