Competition Commission of Pakistan approves PIACL privatisation scheme

The Competition Commission of Pakistan (CCP) has given the green light to the Scheme of Arrangement (SoA) for the privatisation process of PIACL. This development signifies a significant milestone in the restructuring of the national airline, aimed at streamlining operations and enhancing efficiency.

The approval from CCP sets the stage for the Securities and Exchange Commission of Pakistan (SECP) to provide its final approval. Once SECP gives the go-ahead, the transfer of PIACL’s non-core assets and liabilities to a newly formed entity, PIA Holding Company Limited, will be formalised.

PIACL, facing financial challenges and operational inefficiencies, has long been a subject of debate regarding its privatisation. The move towards privatisation is expected to bring in strategic investors, inject fresh capital, and improve the overall performance and competitiveness of the airline.

The approval of the Scheme of Arrangement by the CCP marks a crucial step in the privatisation process of PIACL. With SECP's final approval pending, the restructuring and transfer of assets to PIA Holding Company Limited are on track, signaling a new chapter in the evolution of Pakistan's national airline.