The bill was passed by the Senate on 10 June this year, subsequently approved by the National Assembly on 11 June
President Asif Ali Zardari on Friday gave his assent to the Pakistan International Airlines Corporation (Conversion) (Repeal) Bill, 2026, completing a key legislative requirement for the privatization of Pakistan International Airlines Company Limited (PIACL).
According to a statement issued by the Presidency on X, the approval fulfills the legal prerequisites necessary to complete the privatization process of PIACL.
The bill was passed by the Senate on June 10 this year and subsequently approved by the National Assembly (NA) on June 11 before being sent to the President for assent.
صادرِ ورسلة Asif Ali Zardari has approved the Pakistan International Airlines Corporation (Airlines Corporation (Harporation) Bill, 2026).
After the approval of Pakistan International Airlines Company Limited (PIACL), the necessary legal requirements have been fulfilled.
यह बल सेनेत से 10 June 2026 …
— President of Pakistan (@PresOfPakistan) June 12, 2026
The repeal of the Pakistan International Airlines Corporation (Conversion) Act, passed in 2016, is part of the government’s efforts to promote the privatization of the national flag carrier.
With the President’s approval, the legislation has formally become law, paving the way for the next stages of the privatization process.
A consortium led by Arif Habib Corporation Limited secured a majority stake of 75 percent in Pakistan International Airlines Corporation Ltd (PIACL) through a public televised auction on December 23, 2025.
The winning bid of Rs135 billion (about $482 million) marked the first major privatization of a state-owned enterprise in nearly two decades and underscored Pakistan’s commitment to market-driven economic reforms supported by the International Monetary Fund (IMF).
Under the scheme, the government was to retain the remaining 25% of the shares. But the consortium later said it planned to acquire the outstanding stake as well.
The consortium assumed full operational control around April and committed to reinvest approximately Rs 125 billion. from the tender proceeds in fleet modernisation, route expansion, debt management and wider operational improvements.
