President Zardari approves ordinance to enable PIA asset transfer after privatisation

President Asif Ali Zardari has approved the PIA Corporation (Conversion) (Repeal) Ordinance, 2026, on the recommendation of Prime Minister Shehbaz Sharif, paving the way for the transfer of assets of Pakistan International Airlines (PIA) to the successful bidder, Business Recorder reported. 

The assets covered include the PIA Planetarium in Karachi, land in Gulshan-e-Iqbal, the Lahore planetarium, land at the Old University Ground, the PIA Planetarium in Hayatabad Peshawar, a football ground in KDA Scheme I Karachi, an office in Dayal Singh Mansion Lahore, and land at Jahangir Khan Sports Complex Karachi.

Officials said the ordinance meets legal requirements for transferring selected PIA assets after privatisation and forms part of the steps to streamline asset management and finalise the airline’s restructuring.

Pakistan International Airlines was privatised in December 2025, when the Arif Habib Group acquired a 75% stake for Rs135 billion, valuing the airline at Rs180 billion. The airline had accumulated losses exceeding $2.8 billion before the sale.

The consortium has also notified the Privatisation Commission of its intent to acquire the remaining 25% stake, which would result in full private ownership.

The Privatisation Commission has indicated that transfer of management control is expected by May 25, 2026.