Former President Asif Ali Zardari addresses the media in Ghothki district of Sindh on Tuesday, November 7, 2023: Screenshot of PPP handle X
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 ordinance aims to comply with the legal requirements to complete the process related to the transfer of certain assets of PIA.
Assets included in the transfer process comprise key properties in multiple cities. In Karachi, these include the PIA Karachi Planetarium, a land in Gulshan-e-Iqbal, a football field in KDA Scheme-I and a land of Jehangir Khan Sports Complex on Kashmir Road.
In Lahore, the assets include the PIA Planetarium Lahore, the Old University Ground land and an office at 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 related to asset transfers linked to the PIA restructuring process.
The federal government has completed the privatization of PIA, the national flag carrier, selling a 75% stake to a consortium led by Arif Habib for Rs 135 billion.
