President Zardari Approves Ordinance to Facilitate PIA Asset Transfer Amid Privatization Drive

ISLAMABAD: Asif Ali Zardari has approved the PIA Corporation (Conversion) (Repeal) Ordinance, 2026 on the advice of Shehbaz Sharif, marking a key legal step in completing the restructuring and asset transfer process of Pakistan International Airlines (PIA).

According to a statement issued by the Aiwan-e-Sadr, the ordinance is aimed at fulfilling legal requirements necessary for transferring certain assets as part of the broader privatization framework of the national airline.

The assets included in the transfer span multiple cities across Pakistan. In Karachi, these comprise the PIA Planetarium, land in Gulshan-e-Iqbal, a football ground in KDA Scheme-I, and the Jehangir Khan Sports Complex located on Kashmir Road.

In Lahore, the assets include the PIA Planetarium, land associated with the Old University Ground, and an office situated in Dyal Singh Mansion on Empress Road.

Meanwhile, in Peshawar, the ordinance covers land in Hayatabad Phase II, where another PIA Planetarium is located.

Officials stated that the ordinance is part of ongoing efforts to complete legal formalities linked to PIA’s restructuring and privatization process. The federal government has already finalized the privatization deal, selling a 75 percent stake in the airline to a consortium led by Arif Habib for Rs135 billion.

The move is seen as a significant development in the government’s broader plan to reform state-owned enterprises, reduce fiscal burden, and improve operational efficiency within the aviation sector.