KARACHI: Fauji Fertiliser Company Limited (FFC) has officially become part of the consortium that emerged as the highest-ranked bidder in the privatisation of Pakistan International Airlines Corporation Limited (PIACL). The Privatisation Commission (PC) has already announced the outcome on December 23, 2025, marking a significant step in the government’s ongoing efforts to privatize the national airline. FFC’s participation in the bid was approved by its Board of Directors, which met on December 24, 2025, to authorise the company’s involvement. As part of the approval, FFC was granted the authority to join the consortium led by Arif Habib Corporation Limited, and to acquire an equity stake in PIACL, either directly or through a special purpose vehicle (SPV). The board also authorised FFC to execute all necessary agreements and documents with the consortium, the PC, and other relevant parties. The consortium itself includes several prominent companies alongside FFC, such as Fatima Fertiliser Company Limited, The Lake City Holdings (Private) Limited, AKD Group Holdings (Private) Limited, and City Schools (Private) Limited. Together, these entities form a collaborative bid aimed at bringing strategic investment and operational expertise to the airline. Despite the announcement, the transaction is not yet finalised. Completion depends on several conditions, including the issuance of a Letter of Acceptance by the Privatisation Commission, execution of definitive agreements between all parties, and fulfilment of regulatory, corporate, and legal approvals required for the acquisition. This development positions FFC as a key player in Pakistan’s ongoing privatisation initiatives, reflecting its strategic interest in expanding its portfolio into the aviation sector. Copyright Business Recorder, 2025