President Zardari approves bill clearing final legal hurdle for PIA privatisation

President Asif Ali Zardari on Friday approved the Pakistan International Airlines Corporation (Conversion) (Repeal) Bill, 2026, completing the legal requirements for the privatisation of Pakistan International Airlines Company Limited (PIACL).

According to a statement issued by the Presidency, the approval fulfils all necessary legal formalities required to complete the privatisation process of the national carrier.

The repeal bill was passed by the Senate on June 10 and approved by the National Assembly on June 11 before being sent to the president for assent. The original law, enacted in January 2016, had converted Pakistan International Airlines into a public limited company.

The development comes months after a consortium led by Arif Habib Corporation Limited secured a 75 per cent stake in PIA through a Rs135 billion winning bid in December 2025. Transaction documents were signed in January this year during a ceremony attended by Prime Minister Shehbaz Sharif.

The consortium has announced plans to revive the loss-making airline through operational restructuring, fleet expansion and improvements in customer services. It has also expressed interest in acquiring the remaining 25pc government stake to gain full control of the airline.