PIA clarifies no debt clearance yet

News Image

By MG News | April 04, 2024 at 01:46 PM GMT+05:00

0:00

April 04, 2024 (MLN): Pakistan International Airlines Corp (PSX: PIAA) on Thursday categorically clarified that the company officially denied shifting loans and clearing off debts as of yet. 

This clarification came when the news reports were in circulation on "PIA's Liabilities, Debt Cleared".

The company is of the view that this news was probably extracted out of the PR released by the Privatization Commission along with the advertisement for PIA's divestment, the Scheme of Arrangement (SOA) and the Teaser that was released on the Privatization Commission's website, a few days ago.

The Scheme of Arrangement has spelt out the shifting of PIACL's debt onto the newly formed Holding Company, from which the news was made, without considering any other factors.

"It is reiterated that the media coverage on PIA's restructuring will keep on circulating for times to come, despite no official statement from the company as the sources of such information will be the Government quarters concerned," the notice reads.

Since the matter is of public interest and the government is keen to push it, this implies that the media will continue to follow it, it further added. 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,759.74
270.47M
0.32%
415.71
ALLSHR 81,338.41
862.30M
0.39%
314.42
KSE30 39,994.19
109.32M
0.22%
85.93
KMI30 190,681.50
143.74M
0.60%
1146.50
KMIALLSHR 55,077.24
478.87M
0.54%
293.58
BKTi 34,677.43
27.25M
-0.75%
-263.30
OGTi 28,733.78
21.86M
1.55%
437.72
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 110,630.00 110,965.00
109,200.00
345.00
0.31%
BRENT CRUDE 68.54 69.00
68.32
-0.57
-0.82%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 109.20 0.00
0.00
0.20
0.18%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.89 67.50
66.65
-0.56
-0.83%
SUGAR #11 WORLD 15.88 15.90
15.44
0.30
1.93%

Chart of the Day


Latest News
July 03, 2025 at 02:53 PM GMT+05:00

PM reviews progress on cashless economy plans


July 03, 2025 at 02:12 PM GMT+05:00

Ghani Global secures SECP approval for share issuance


July 03, 2025 at 01:26 PM GMT+05:00

Banks raise ATM withdrawal fee to Rs35


July 03, 2025 at 12:57 PM GMT+05:00

SBP mandates biometrics for wallet cash



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg