PIACL Restructuring Approved By SECP

PIACL Restructuring Approved By SECP

The legal segregation of Pakistan International Airlines Corporation Limited (PIACL), one of the most complex restructuring exercise undertaken, has attained finality, with the Securities and Exchange Commission of Pakistan (SECP) giving its approval of the Scheme of Arrangement on 3rd May 2024 for the transfer of non-core assets and liabilities of PIACL to PIA Holding Company Limited. This order marks a significant milestone in the collaborative efforts of the Privatisation Commission (PC), Finance Division, Aviation Ministry and Pakistan International Airlines to restructure the national carrier.

The Scheme has been made effective dated 30th April 2024. SECP has directed PSX, CDC and NCCL to ensure smooth listing of PIA Holding Company Limited as per the applicable rules and regulations.