PIA Corporation Conversion Repeal Ordinance 2026 Signed by President Zardari

PIA – (Special Correspondent / Web Desk) – President Asif Ali Zardari has signed the PIA Corporation Conversion Repeal Ordinance 2026, clearing the legal path for transferring Pakistan International Airlines’ assets to its new private owners. The ordinance was approved on the advice of the Prime Minister, as confirmed by state broadcaster Radio Pakistan.

The assets being transferred include PIA planetariums in Karachi, Lahore, and Peshawar. Other properties on the list are land in Karachi’s Gulshan-e-Iqbal and Kashmir Road areas, the Old University Ground, a football ground in KDA Scheme I, the Jahangir Khan Sports Complex, and an office in Dyal Singh Mansion on Lahore’s Empress Road.

PIA was sold in December 2025 when the Arif Habib Group won a 75 percent stake for Rs135 billion. The same group has now moved to buy the remaining 25 percent, bringing total ownership to 100 percent. Full management control is expected to be handed over by May 25, 2026.

Once one of Asia’s top airlines, PIA spent years struggling with debt, mismanagement, and a damaging pilot licensing scandal that got it banned from EU, UK, and US skies. The EU and UK bans have since been lifted, but the US ban remains in place.

New owner Arif Habib has promised to expand the fleet, open new international routes, and raise the overall quality of service for passengers.