Milestone achieved in PIA restructuring, Scheme of Arrangement approved in SECP

Islamabad: The Privatization Commission has achieved a milestone in the restructuring of PIA.

The shareholders and creditors approved the scheme of arrangement filed in SECP. According to the Privatization Commission, the Federal Cabinet approved the legal separation and restructuring of PIACL.

The Privatization Commission said in its statement that the scheme of arrangement was filed with the SECP. The scheme had to be approved by shareholders and creditors. The restructuring blueprint was presented to the shareholders of PIACL which they approved with 99.97% votes.