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In keeping with a press launch issued by the Privatization Fee on Sunday the authorized segregation of PIACL, one of the vital complicated restructuring train undertaken, has attained finality, with the SECP giving its approval of the Scheme of Association on Might 3 for the switch of non-core belongings and liabilities of PIACL to PIA Holding Firm Restricted.
This order marks a major milestone within the collaborative efforts of the Privatisation Fee , Finance Division, Aviation Ministry and PIA to restructure the airline.
The scheme has been made efficient from April 30, 2024 the press launch added.
The SECP has directed the PSX, Central Depository Firm and Nationwide Clearing Firm of Pakistan to make sure clean itemizing of PIA Holding Firm Restricted as per the relevant guidelines and rules.
Ten corporations have reportedly proven their curiosity in buying the bulk stakes in Pakistan Worldwide Airways (PIA), it emerged final week.
In keeping with sources, 10 corporations together with three home aviation corporations have submitted their purposes for tenders.
Fly Jinnah, AirSial, Arif Habib Group, Shujaat Azeem Group’s consortium, Tabba, Tariq Group and Sehgal teams have additionally proven curiosity in buying the vast majority of PIA shares, the sources stated.
The final date of PIA privatisation was Might 3 (right this moment) which has now been prolonged to 18 with goal of offering such corporations with ample time to finalise their proposals.
