Former President Asif Ali Zardari addressing the media in Sindh District Ghothki on Tuesday November 7, 2023: Screenshot from PPP’s X handle
ISLAMABAD:
President Asif Ali Zardari approved the PIA Corporation (Conversion) (Repeal) Ordinance, 2026 on the advice of the Prime Minister, according to a statement issued by the Media Wing of Aiwan-e-Sadr on Sunday.
The order is intended to fulfill legal requirements to complete the process of transfer of certain PIA assets.
The assets involved in the transfer process include key properties in several cities. In Karachi, these include PIA Planetarium Karachi, land in Gulshan-e-Iqbal, a football ground in KDA Scheme-I and land for Jehangir Khan Sports Complex on Kashmir Road.
In Lahore, assets include PIA Planetarium Lahore, land for Old University Ground, and an office in Dyal Singh Mansion on Empress Road.
In Peshawar, the ordinance covers land located in Hayatabad Phase II where a PIA Planetarium is located. Officials said the order is part of efforts to complete legal formalities regarding asset transfers associated with PIA’s restructuring process.
The federal government has completed the privatization of PIA, the national flagship, selling a 75% stake to an Arif Habib-led consortium for Rs135 billion.
