PIA privatization process ends with signing of transaction documents

Prime Minister Shehbaz Sharif and Field Marshal Asim Munir attend the ceremony together

The documents were signed by Prime Minister Shehbaz Sharif and a consortium led by Arif Habib Corporation Limited at a ceremony in Islamabad, which was also attended by several federal ministers.

The privatization process of Pakistan International Airlines was completed on Thursday with the signing of transaction documents between the federal government and the Arif Habib Consortium.

The signing ceremony of shareholders, share purchase and subscription agreement was held today in Islamabad in the presence of Prime Minister Shehbaz Sharif and Chief of Defense Forces and Chief of Army Staff Field Marshal Syed Asim Munir.

Defense Secretary Lieutenant General (retd) Muhammad Ali, Privatization Commission Secretary Usman Bajwa, PIA Holding Company CEO Asad Rasool, Arif Habib Corporation Limited Chairman Arif Habib, Fatima Fertilizer Director Fazal Ahmed, Lake City CEO Gohar Ejaz and PIACL CEO Amir Hayat signed the documents.

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More to follow.