Privatization Commission inks agreement for PIAC divestment

MG News | November 29, 2023 at 12:15 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

November 29, 2023 (MLN): A Financial Services Agreement (FASA) was signed on Wednesday between the Privatization Commission and the Financial Advisor for divestment of Pakistan International Airlines Corporation (PIACL) in the presence of the Minister for Privatization, Fawad Hasan Fawad, according to a press release issued on the said day.

The Consortium led by Earnest & Young was invited for contract negotiations as Financial Advisor after approval by the Privatization Commission Board in its meeting on 10th November 2023.

The financial advisor will be responsible for restructuring and carrying out legal, technical, and financial due diligence for the proposed divestment together with a fair valuation of PIACL.

The Minister expressed the hope and desire that the transaction would be carried out successfully despite the challenging economic environment.

He assured the Financial Advisor of the complete support of all institutions involved in the process to facilitate their work with a view to perform their task seamlessly in the best possible interest.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,021.20 228.53M	-0.42% -718.25
ALLSHR	103,836.39 572.65M	-0.41% -422.85
KSE30	50,951.99 89.47M	-0.52% -264.77
KMI30	240,633.87 93.99M	-0.31% -756.80
KMIALLSHR	66,572.75 300.61M	-0.28% -185.59
BKTi	48,673.23 31.18M	-0.70% -343.86
OGTi	33,702.25 6.35M	-0.61% -205.57

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,470.00	64,470.00 63,875.00	255.00 0.40%
BRENT CRUDE	98.70	101.19 95.13	-1.99 -1.98%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-1.55 -1.44%
ROTTERDAM COAL MONTHLY	121.10	121.10 121.10	0.70 0.58%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	90.47	92.83 87.68	-1.72 -1.87%
SUGAR #11 WORLD	14.76	14.79 14.54	0.07 0.48%