ISLAMABAD: President Asif Ali Zardari has approved the Pakistan International Airlines Corporation (Conversion) (Repeal) Ordinance, 2026, on the advice of Prime Minister Shehbaz Sharif.
The ordinance has been promulgated to fulfil legal requirements necessary for completion of the transfer process of certain assets of PIA. These assets include PIA Planetarium in Karachi, land in Gulshan-e-Iqbal, PIA Planetarium in Lahore, land of Old University Ground, PIA Planetarium located in Hayatabad Phase II, Peshawar, a football ground in KDA Scheme-I Karachi, an office located at Dyal Singh Mansion on Empress Road Lahore, and land of Jahangir Khan Sports Complex situated on Kashmir Road, Karachi.
The ordinance aims to repeal the Pakistan International Airlines Corporation (Conversion) Act, 2016. This step is required to complete the privatisation of Pakistan International Airlines Company Limited (PIACL). The privatisation process is at an advanced stage. Most key agreements have been finalised.
The ordinance will provide the legal basis to complete the transaction. The federal cabinet, in its meeting held on Dec 31, 2025, approved the privatisation of PIACL on the recommendation of Cabinet Committee on Privatisation (CCOP) in favour of the successful bidder.
