ISLAMABAD: The Competition Commission of Pakistan (CCP) has given the green light to the Scheme of Arrangement (SoA) for the privatisation process of Pakistan International Airlines Corporation Limited (PIACL) on Friday.

This approval signals a pivotal step towards the PIACL’s restructuring process and approval from the SECP once finalized, this will formalise the transfer of non-core assets and liabilities to the newly-formed PIA Holding Company Limited, setting the stage for a debt-light PIACL.

Minister, FAs discuss PIACL privatization

The privatisation of the PIACL has garnered substantial interest from major investors, including airlines and business conglomerates, who have submitted their expressions of interest for this transaction. The Privatisation Commission (PC) has extended the deadline for submitting the Statement of Qualification (SOQ) till May 17, 2024, upon request from the interested parties.

The decision aims to facilitate a competitive and fair bidding process, ultimately, leading to successful privatisation outcome.

Copyright Business Recorder, 2024