Privatisation transaction of PIACL: progress on first closing reviewed

ISLAMABAD, The Privatisation Commission (PC) Board met here on Wednesday and reviewed the progress on the first closing of the privatisation transaction of Pakistan International Airlines Corporation Limited (PIACL). The meeting was chaired by Muhammad Ali, Adviser to the Prime Minister on Privatisation. An aviation expert said that the buyer can officially assume management responsibilities and appoint new board members or executives after the first closing of the privatisation transaction of PIACL. During the meeting, the Financial Adviser briefed the Board on the progress achieved towards the fulfilment of the conditions precedent outlined in the Share Purchase and Subscription Agreement (SPSA), 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 materialisation of the first closing of the transaction. The Board reaffirmed the Government’s commitment to advancing the privatisation programme in a transparent, competitive, and professionally managed manner aimed at promoting efficiency, strengthening investor confidence, and supporting sustainable economic reforms. Copyright Business Recorder, 2026

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