Meaning
'Sir', 'master' — an honorific suffix or address of respect appended to names or roles.
Literally: companion, associate
See it in the verse
Sahib in Iqbal’s couplets
Mard-e-Khuda ka amal ishq se sahib-e-firogh
Ishq hai asl-e-hayat maut hai is par haraam
Ishq hai asl-e-hayat maut hai is par haraam
The deeds of the man of God shine with love; love is the essence of life, and death is forbidden to touch it.
Love · Aspiration · Action
Tujhe kitab se mumkin nahin faragh ki tu
Kitab-khwan hai magar sahib-e-kitab nahin
Kitab-khwan hai magar sahib-e-kitab nahin
You cannot be free of the book, for you are a reader of books but not their master.
Self-Knowledge · Action · Selfhood
Puchh us se ki maqbul hai fitrat ki gawahi
Tu sahib-e-manzil hai ki bhatka hua rahi
Tu sahib-e-manzil hai ki bhatka hua rahi
Ask nature, for its testimony is accepted: are you the master of your destination, or a traveller who has lost his way?
Self-Knowledge · Aspiration · Awakening