The Competition Commission of Pakistan (CCP) has approved the Scheme of Arrangement (SoA) for the privatisation process of Pakistan International Airlines Corporation Limited (PIACL).
This marks a crucial step towards restructuring the national airline and facilitating a smoother transition during the privatisation process.
The approval paves the way for the Securities and Exchange Commission of Pakistan (SECP) to give its final nod, leading to the formalisation of the transfer of PIACL’s non-core assets and liabilities to a newly established entity, PIA Holding Company Limited.
This separation is designed to create a debt-light PIACL, allowing for greater focus on core airline operations and enhancing its appeal to investors.
The privatisation of PIACL has attracted considerable interest from both domestic and international investors, with major airlines and business conglomerates submitting their expressions of interest.
The Privatisation Commission (PC) has extended the deadline for submitting the Statement of Qualification (SOQ) until May 17, 2024, accommodating requests from potential bidders.
The Privatisation Commission’s extension aims to ensure a competitive and transparent bidding process, fostering a fair environment for all parties. This development is seen as a significant step towards achieving a successful outcome in the privatisation of PIACL, with the ultimate goal of revitalising the national airline and improving its financial health.
Stakeholders and industry experts are closely monitoring the process, with hopes that the privatisation will bring much-needed efficiency and innovation to Pakistan’s aviation sector. They
he finalisation of the Scheme of Arrangement and the subsequent privatisation process will be critical in determining the future trajectory of Pakistan International Airlines.
