The Privatization Commission Board, in its 252nd meeting on Wednesday, reviewed progress on the first closing of the privatization transaction of Pakistan International Airlines Corporation Limited (PIACL), expressing satisfaction with the process.
Addressing the meeting, Adviser to the Prime Minister on Privatization Muhammad Ali briefed the Board on the progress achieved toward the fulfilment of the conditions precedent outlined in the Share Purchase and Subscription Agreement, including key regulatory, financial, and transactional requirements necessary for completion of the first closing.
The Board expressed satisfaction with the progress made so far and granted the necessary approvals to facilitate the materialization of the first closing of the transaction. It also reaffirmed the government’s commitment to advancing the privatization program in a transparent, competitive, and professionally managed manner aimed at promoting efficiency, strengthening investor confidence, and supporting sustainable economic reforms