Overview
- President Asif Ali Zardari gave assent on June 12, 2026, to the Pakistan International Airlines Corporation (Conversion) (Repeal) Bill, formally removing the last statutory barrier to the airline’s privatisation.
- The repeal explicitly preserves all orders, transfers, licences and contracts made under the 2016 Conversion Act so existing deals and operational changes remain valid during implementation.
- A consortium led by Arif Habib Corporation won a televised auction on December 23, 2025, for a 75% stake with a Rs135 billion bid and has indicated plans to buy the remaining 25% government stake.
- The consortium assumed operational control around April 2026 and has committed about Rs125 billion of the proceeds to fleet modernisation, route expansion, debt management and other operational reforms.
- The government has set a Rs160.5 billion privatisation target for fiscal 2026‑27 and is counting on PIA and other state‑owned enterprise sales to meet that goal, a move tied to IMF‑backed reform commitments.