PC Board reviews progress on first closing of PIACL privatization

May 20, 2026 (MLN): Pakistan's Privatisation Commission Board has approved key measures to facilitate the materialization for the first closing of the privatisation transaction of Pakistan International Airlines Corporation Limited (PIACL).

This signals a significant step forward in the government's drive to offload the struggling national carrier, according to a press release issued.

The Board, meeting for the 252nd time under the chairmanship of Muhammad Ali, Adviser to the Prime Minister on Privatisation, was briefed by the Financial Adviser on progress made toward fulfilling the conditions precedent under the Share Purchase and Subscription Agreement (SPSA), covering regulatory, financial, and transactional requirements. 

Expressing satisfaction with the progress achieved, the Board granted the necessary approval for the materialization, reaffirming the government's commitment to conducting the privatisation programme in a transparent, competitive, and professionally managed manner to promote efficiency, bolster investor confidence, and support sustainable economic reform.

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