PIA Investment receives $11m after 28-year arbitration saga

MG News | July 04, 2025 at 02:24 PM GMT+05:00

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July 04, 2025 (MLN): In a long-awaited resolution, PIA Investment Ltd has received $11 million in compliance with an arbitration award rendered in its favour 13 years ago, according to Pakistan’s Defence Minister Khawaja Asif.

The process, which spanned 28 years from initiation to enforcement, marks the conclusion of a protracted legal battle.

“This is an excellent news - justice finally prevailed,” Asif posted on social media, highlighting the arduous journey to secure the payment under the arbitration decision.

The minister did not disclose details of the counterparty or the original dispute.

The settlement is expected to provide some financial relief to the PIA group, which continues to grapple with liabilities amid efforts to restructure the national carrier.

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