Report by Engineering Post
All legal requirements and processes have now been completed for privatization of the Pakistan International Airlines Company Limited (PIACL) following the repeal of the relevant laws.
The approval of the Pakistan International Airlines Corporation (Conversion) (Repeal) Bill 2026 by the competent highest authority has completed and fulfilled all legal processes required for the privatization of the PIACL. The repeal bill as such has abolished the PIA Corporation (Conversion) Act 2016 which had converted the national flag carrier into a public limited company.
The development was a follow up of successful sale of 75 % stake in PIACL to a consortium led by Arif Habib Corporation Limited which had submitted a winning bid of Rs 135 billion in December 2025.
Transaction documents related to the deal were signed in January 2026 during a ceremony. The consortium has since unveiled the plans for the revival of the airline through operational restructuring, fleet expansion and improving the customer services. It had also expressed interest in acquiring the federal government’s remaining 25 % stake in order to gain full management control.
Arif Habib was on record to have stated previously that the privatization would support business expansion and create additional employment opportunities within the airline.
Fauji Fertilizer, which initially had participated in the bidding process independently, had afterwards joined the consortium led by Ari f Habib Corporation Limited.
