Process to privatize PIA formally set in motion

PIA holding company holds maiden meeting in Islamabad.

ISLAMABAD: The newly established PIA holding company held its inaugural meeting at the secretary aviation’s office in Islamabad, marking the official commencement of the company’s operations.

Formally endorsed by the federal cabinet on March 20, the government swiftly appointed its Board of Directors. Tariq Bajwa, former governor State Bank and federal secretary finance, assumed the charge of chairman of the board.

Concurrently, AVM Amir Hayat, the current CEO of Pakistan International Airlines Corporation (PIACL), was designated as the girst CEO of the new entity.

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

This comprehensive scheme 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.

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