AIRLINK 74.00 Decreased By ▼ -0.56 (-0.75%)
BOP 5.02 Decreased By ▼ -0.04 (-0.79%)
CNERGY 4.42 Decreased By ▼ -0.04 (-0.9%)
DFML 39.20 Decreased By ▼ -0.53 (-1.33%)
DGKC 86.09 Decreased By ▼ -1.46 (-1.67%)
FCCL 21.65 Decreased By ▼ -0.28 (-1.28%)
FFBL 34.01 Decreased By ▼ -0.58 (-1.68%)
FFL 9.92 Increased By ▲ 0.17 (1.74%)
GGL 10.56 Increased By ▲ 0.07 (0.67%)
HBL 113.89 Increased By ▲ 0.10 (0.09%)
HUBC 135.84 Decreased By ▼ -0.68 (-0.5%)
HUMNL 11.90 Increased By ▲ 1.00 (9.17%)
KEL 4.84 Increased By ▲ 0.17 (3.64%)
KOSM 4.53 Decreased By ▼ -0.11 (-2.37%)
MLCF 38.27 Decreased By ▼ -0.19 (-0.49%)
OGDC 134.85 Decreased By ▼ -1.29 (-0.95%)
PAEL 26.35 Decreased By ▼ -0.26 (-0.98%)
PIAA 20.80 Decreased By ▼ -1.69 (-7.51%)
PIBTL 6.68 Increased By ▲ 0.01 (0.15%)
PPL 123.00 Increased By ▲ 0.71 (0.58%)
PRL 26.69 Decreased By ▼ -0.28 (-1.04%)
PTC 14.33 Increased By ▲ 0.42 (3.02%)
SEARL 59.12 Decreased By ▼ -0.75 (-1.25%)
SNGP 69.50 Decreased By ▼ -0.56 (-0.8%)
SSGC 10.33 Decreased By ▼ -0.02 (-0.19%)
TELE 8.50 Decreased By ▼ -0.04 (-0.47%)
TPLP 11.23 Decreased By ▼ -0.11 (-0.97%)
TRG 64.85 Decreased By ▼ -1.15 (-1.74%)
UNITY 26.25 Decreased By ▼ -0.08 (-0.3%)
WTL 1.34 Decreased By ▼ -0.01 (-0.74%)
BR100 7,851 Increased By 26.3 (0.34%)
BR30 25,337 Decreased By -69.2 (-0.27%)
KSE100 75,207 Increased By 122.8 (0.16%)
KSE30 24,143 Increased By 49.1 (0.2%)

KARACHI: The board of the newly established PIA Holding Company has endorsed the Scheme of Arrangement delineating the pathway for the privatisation of Pakistan International Airlines.

The inaugural board meeting, convened at the Secretary Aviation’s Office in Islamabad, has marked the official commencement of the company’s operations.

Formally endorsed by the Federal Cabinet on March 20, 2024, the government swiftly appointed its Board of Directors on March 26, 2024.

Board gives nod to PIA privatisation plan

Notably, Tariq Bajwa, a distinguished figure in financial circles with illustrious roles such as the Governor of State Bank and Federal Secretary Finance to his credit, assumed the pivotal role of Chairman of the Board. Concurrently, AVM Amir Hayat, the current CEO of Pakistan International Airlines Corporation (PIACL), was designated as the First CEO of the new entity.

The board in its first meeting held on March 27, 2024, endorsed the Scheme of Arrangement delineating the pathway for the privatization of Pakistan International Airlines.

This comprehensive scheme, already receiving the stamp of approval from both the Federal Cabinet and the PIACL Board, sets the stage for the next chapter of the national carrier.

Additionally, the board meticulously deliberated on various strategic facets of the business, thereby laying down the groundwork for the efficient functioning of the holding company.

Copyright Business Recorder, 2024

Comments

Comments are closed.

Zubair Ahmed Apr 04, 2024 06:46am
Scheme of arrangements for employees, Golden hand shake, VSS/ mandatory separation? Find details
thumb_up Recommended (0)