Former President Asif Ali Zardari addresses the media in Sindh’s Ghothki district on Tuesday, November 7, 2023: Screenshot of PPP’s X handle
ISLAMABAD:
President Asif Ali Zardari has approved the PIA Corporation (Conversion) Ordinance, 2026 on the advice of the Prime Minister, according to a statement issued by the Aiwan-e-Sadr media wing on Sunday.
The order aims to fulfill legal requirements to complete the process related to the transfer of certain assets of PIA.
Assets included in the transfer process include key properties in several cities. In Karachi, these include the PIA Karachi Planetarium, the ground at Gulshan-e-Iqbal, a football ground under the KDA-I scheme and the ground at the Jehangir Khan Sports Complex on Kashmir Road.
In Lahore, assets include the PIA Lahore Planetarium, the land of the old university ground and an office in the Dyal Singh mansion on Empress Road.
In Peshawar, the ordinance covers land located in Phase II of Hayatabad, where a PIA planetarium is located. Officials said the order was part of efforts to complete legal formalities regarding asset transfers related to PIA’s restructuring process.
The federal government has completed the privatization of PIA, the national airline, by selling a 75% stake to a consortium led by Arif Habib for Rs135 billion.
