PIA’s restructuring scheme approved by SECP

Regarding the privatization of PIA, the major decision of the Security and Exchange Commission of Pakistan (SECP) has come out, the airline’s restructuring scheme has been approved by the SECP.

According to the announcement, the scheme of arrangement for the privatization of the airline was approved on May 3. The stock market has also been informed about the scheme of arrangement of PIA.

In the Scheme of Arrangement, all assets, losses and liabilities of PIA Corporation Limited have been transferred to PIA Holding Company.

The Ministry of Finance and Privatization has also been informed about the important legal developments in the privatization of PIA.

The statement added that the Pakistan Stock Exchange, Central Depository and National Clearing Company have also been formally informed that the rules and regulations for the listing of PIA Holding Company in the stock market can now be easily implemented.