The Privatization Commission Board on Tuesday approved key measures related to the privatisation of Pakistan International Airlines (PIA), marking further progress in the transaction process.
The meeting of the Privatization Commission Board was chaired by Muhammad Ali, during which the participants reviewed progress on the first closing of the PIA privatization transaction.
According to a spokesperson for the Privatization Commission, the board granted all necessary approvals required for the first closing of the transaction and expressed satisfaction with the COPIA deal.
The board was also briefed on the fulfillment of conditions under the SPSA agreement, while efforts to complete the remaining regulatory and financial requirements are continuing.
The spokesperson said the government remains committed to ensuring a transparent and competitive privatization process, adding that the broader privatization program would help enhance investor confidence.
Officials further stated that the privatization of PIA is expected to support the government's ongoing economic reform agenda and improve the efficiency of the national flag carrier.