Kh Asif says PIA wins case, bags $11 million in settlement

ISLAMABAD: Pakistan International Airlines (PIA) has achieved a significant legal victory after 28 years, securing a financial settlement worth over US$11 million (approximately Rs3.09 billion) in a long-standing case.

The breakthrough was confirmed by Federal Defence Minister Khawaja Asif on Friday via a post on his social media platform X.

Khawaja Asif stated that the case had initially been decided 13 years ago in favour of PIA Investments Ltd through an arbitration award.

However, the implementation and release of funds took an additional 15 years, bringing the total legal journey to 28 years.

“This is excellent news,” the defence minister tweeted. “Justice finally prevailed, and PIA Investment Ltd received in its account US$11 million in compliance with the Arbitration Award rendered in its favor 13 years back. It took 28 years for arbitration and its implementation.” NNI