2 important milestones were achieved in the restructuring of PIA

The Ministry of Privatization says 2 important milestones have been achieved in the restructuring of the national airline (PIA).

According to a statement from the Ministry of Privatization, PIA’s shareholders and creditors approved the plan filed with the Securities and Exchange Commission of Pakistan (SECP).

According to the announcement, the federal cabinet had approved the demerger and restructuring of PIA as part of the privatization process.

A scheme of arrangement was filed with the SECP on 28 March 2024, subject to the approval of PIA’s shareholders and creditors.