SECP approves PIACL restructuring for enhanced efficiency

The Securities and Exchange Commission of Pakistan (SECP) has approved the restructuring of the Pakistan International Airlines Corporation Limited (PIACL), as announced by the Privatisation Commission. This decision marks a significant step towards enhancing the efficiency and competitiveness of PIACL.

Under the approved scheme of arrangement granted on May 3, the SECP has given the green light to the transfer of non-core assets and liabilities of PIACL to the PIA Holding Company Limited. This strategic move is aimed at streamlining operations, improving financial performance, and ensuring sustainable growth for PIACL.

By transferring non-core assets and liabilities to the PIA Holding Company Limited, PIACL can focus on its core business activities, such as airline operations and passenger services. This restructuring initiative is expected to optimize resource allocation, enhance operational effectiveness, and ultimately contribute to the long-term viability of PIACL.

The approval of the restructuring of PIACL by the SECP underscores the commitment to revitalizing the national flag carrier and positioning it for future success. This decision sets the stage for a more agile and competitive PIACL, better equipped to meet the evolving demands of the aviation industry.