ISLAMABAD: The privatization process of Pakistan International Airlines Corporation Limited (PIACL) has crossed another milestone as the Competition Commission of Pakistan (CCP) has given the green light to the Scheme of Arrangement (SOA).
This approval signals a key step towards PIACL’s restructuring process and SECP approval. Once completed, it will formalize the transfer of ancillary assets and liabilities to the newly formed PIA Holding Company Limited, paving the way for a low-debt PIACL.
The privatization of PIACL has attracted considerable interest from major investors, including airlines and business conglomerates, who have submitted expressions of interest for the transaction. The Privatization Commission (PC) has extended the deadline for submission of Statement of Qualification (SOQ) to 17 May 2024 at the request of interested parties.
The aim of the decision is to facilitate a competitive and fair bidding process that will ultimately lead to a successful privatization outcome.
