PIA approves transfer of Precision Engineering Complex to Pakistan Air Force entity
MG News | October 27, 2025 at 02:16 PM GMT+05:00
October 27, 2025 (MLN): PIA Holding
Company Limited (PSX: PIAHCLA) have approved a transfer of the Precision Engineering
Complex (PEC) to the Pakistan Air Force’s designated entity, Precision
Engineering Complex (Private) Limited (PECPL).
Under the approved Scheme
of Arrangement, the Precision Engineering Complex will be carved out from
PIAHCLA and transferred to PECPL, along with all ancillary matters, according
to a he Resolution passed by the Shareholders of PIAHCLA.
The move is subject
to the approval of the Securities and Exchange Commission of Pakistan (SECP)
and compliance with all applicable legal and regulatory requirements.
The resolution also
authorizes the Chief Executive Officer and Company Secretary of
PIAHCLA to undertake all necessary corporate, legal, and regulatory formalities
to implement the decision.
This includes
signing, executing, and delivering all required documents, obtaining
no-objection certificates, and filing relevant submissions with the SECP and
other authorities.
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