Pakistan International Airlines (PIA) is set to be handed over to its new owners later this month, concluding the months-long privatization process after the completion of all local and international regulatory approvals.
Prime Minister’s Adviser on Privatization, Muhammad Ali, confirmed that the airline’s new management will assume control before the end of the month.
Ali revealed that the transfer of the national carrier’s rights in various countries to the privatized entity required a series of local and international regulatory approvals, all of which have now been completed, adding that the relevant law governing PIA’s conversion into a public limited company had also been amended.
Talking about the current management system, Ali said that while PIA’s formal decision-making authority currently remains with the public sector, the airline’s future private owners are already involved in all key operational and financial matters under the terms of the sale and purchase agreement.
He further said that a 15-year tax exemption on aircraft, related equipment, accessories, and leasing and purchase arrangements had been approved by the International Monetary Fund (IMF) to facilitate the privatization process.
The exemption has also been incorporated into the Finance Bill 2026-27, providing it with legal protection.
However, Ali acknowledged that similar tax concessions are not currently available to other airlines, as the IMF’s approval was granted specifically for PIA.
