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