President approves PIA repeal bill, clearing legal hurdles for privatisation

WEB DESK: Pakistan’s President has approved the Pakistan International Airlines Corporation Conversion (Repeal) Bill, completing a key legal requirement for the privatisation of the national flag carrier, according to an official statement issued on Thursday.

The approval comes after the legislation was passed by the Senate on June 10 and by the National Assembly on June 11, paving the way for the government to move forward with the privatisation process of Pakistan International Airlines (PIA).

Legal requirements completed

Officials said the president’s assent to the bill fulfils the legal prerequisites necessary for the completion of PIA’s privatisation.

The repeal legislation is considered an important step in the government’s broader efforts to restructure and divest state-owned enterprises facing financial challenges.

The government has maintained that reforms in the aviation sector are essential to improve efficiency, reduce the fiscal burden on the national exchequer and attract private investment.

Privatisation process moves ahead

The development is expected to provide momentum to the ongoing privatisation programme, with PIA remaining one of the government’s most closely watched transactions.

Authorities have repeatedly expressed confidence that the airline’s restructuring and privatisation would help improve its operational performance and financial sustainability.

With the legal framework now in place following parliamentary approval and presidential assent, the government is expected to proceed with the next stages of the privatisation process.