ISLAMABAD: The Board of Privatisation Commission will take up the Scheme of Arrangement and the transaction structure of Pakistan International Airlines Corporation Ltd (PIACL) on Tuesday.

The transaction structure has been proposed by the financial advisers for the divestment of the national flag carrier. The financial advisors presented a proposal for the legal segregation of the PIACL aimed at the separation of core aviation business and assets for eventual divestment of core aviation services in the first instance.

The non-core assets will be retained in a holding company structure for subsequent divestment in separate structures and transactions. The roadmap for further process was discussed in detail and inputs of all stakeholders were taken for further rationalisation and presentation to the Cabinet Committee on Privatisation and the Federal Cabinet for final approval.

Caretaker Minister for Privatisation Fawad Hasan Fawad chaired the consultative meeting on the legal segregation of PIACL.

Published in Dawn, January 9th, 2024