PIA Board approves transfer of PEC to PAF entity

MG News | September 24, 2025 at 04:11 PM GMT+05:00

0:00

September 24, 2025 (MLN): Pakistan International Airlines Holding Company Limited (PIAHCL) has approved a Scheme of Arrangement to transfer its business unit, Precision Engineering Complex (PEC), to Precision Engineering Complex (Private) Limited, a designated entity of the Pakistan Air Force.

The decision was made during the company’s 16th Board of Directors meeting held on September 23, 2025, in Islamabad, in pursuance of directives from the Federal Government.

The Scheme of Arrangement, drafted under Sections 279 to 283 and 285(8) of the Companies Act, 2017, covers the transfer process and ancillary modalities.

It will be filed with the Securities and Exchange Commission of Pakistan (SECP) for regulatory approvals.

The disclosure was made to the Pakistan Stock Exchange (PSX) under Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations.

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