SECP approves restructuring of PIA Corporation Limited
SECP termed the process as complex—Photo: File
Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has approved the restructuring of Pakistan International Airlines Corporation Limited (PIACL).
According to the announcement issued by the Privatization Commission, the legal separation of Pakistan International Airlines Corporation Limited (PIACL) was the most complex task regarding the restructuring of PIACL, which has now been finalized. .
SCCP has approved the transfer of non-core assets and liabilities of PIACL to PIA Holding Company Limited subject to approval of the scheme of arrangement on May 3, 2024, the statement said. .
It is further stated that this order regarding the restructuring of the national airline marks an important milestone in the joint efforts of the Privatization Commission (PC), Finance Division and Ministry of Aviation and Pakistan International Airlines to implement the scheme 30 Made effective from April 2024.
SECP has directed PSX, CDC and NCCL to ensure listing of PIA Holding Company Limited as per applicable rules and regulations.
SECP approves restructuring of PIA Corporation Limited