Islamabad: The privatization of Pakistan’s national airline has achieved a significant milestone, with authorities confirming that all domestic and international approvals required for the completion of the transaction have been secured.
According to Privatization Commission officials, all regulatory clearances, no-objection certificates (NOCs), and other necessary consents have been obtained, allowing the transaction to move into its final implementation phase. The development marks an important step forward in the government’s privatization program.
Officials also confirmed that the Share Purchase and Subscription Agreement (SPSA) has been signed with the successful bidder. The agreement outlines the terms and conditions governing the transfer of shares and the future management of the airline.
Under the terms of the deal, the transfer of shares and management control will take place during the “First Closing” stage. This phase is considered a key component of the privatization process and will formally initiate the ownership transition.
The buyer is expected to deposit the remaining amount due under the agreement at the time of the First Closing. Authorities stated that a payment of approximately Rs85 billion is anticipated during this stage of the transaction.
Privatization Commission officials said efforts are underway to complete the First Closing by the end of June. Relevant administrative, financial, and legal procedures are being finalized to ensure the process is completed within the planned timeline.
