President approves PIA Conversion and Repeal Bill 2026

President Asif Ali Zardari has approved the Pakistan International Airlines Corporation (Conversion and Repeal) Bill 2026, ARY News reported on Friday.

President Asif Ali Zardari’s assent fulfils the legal requirements necessary for the completion of the privatisation process of Pakistan International Airlines (PIA).

The bill was passed by the Senate on 10 June 2026 and subsequently approved by the National Assembly on 11 June 2026.

The Arif Habib Consortium officially acquired Pakistan International Airlines (PIA) earlier this year with an offer of Rs135 billion.

The consortium purchased 75 percent of the national carrier’s shares, surpassing its closest competitor, the Lucky Consortium, whose final bid stood at Rs134 billion.

Read more: PIA Privatisation: All You Need To Know

Officials said that under the terms of the deal, the government will receive Rs10.2 billion in cash immediately. This privatization marks the first major large-scale privatization in Pakistan in the last two decades and is expected to save taxpayers around Rs35 billion annually in subsidies and operational costs.

Following the successful acquisition of Pakistan International Airlines (PIA), the Arif Habib Consortium has confirmed the inclusion of Fauji Fertilizer Company as a partner in the deal.

Speaking about the partnership, representatives of the Arif Habib Group welcomed Fauji Fertilizer’s participation, emphasizing the positive impact it would bring to the airline’s revival.