Pakistan to convert national airlines into public limited company

Pakistani parliament on Monday unanimously approved a law, allowing the government to convert the country's national airlines from a corporation to a public limited company.

The opposition lawmakers did not oppose the government move after their proposed amendments were incorporated into the "Pakistan International Airline's (PIA) (conversion) bill 2016."

Minister for Law and Justice, Zahid Hamid, told the house that the genuine demands of the opposition members have been accommodated in the proposed bill and rights of employees have been duly protected.

The bill was previously rejected by the opposition-dominated Senate while the opposition MPs had also boycotted the National Assembly's proceedings when the bill was passed in February.

The treasury and opposition benches had agreed on the retention of employees, their salaries, allowances and benefits, after the conversion of PIA from a corporation into a limited company.

Both sides had also agreed that 51 percent management of the new subsidiary (to be established) will remain with the government.