ISLAMABAD, May 20, 2026: The Privatisation Commission Board reviewed progress on the first closing of the PIACL privatisation transaction during its 252nd meeting in Islamabad on Wednesday.

The meeting was chaired by Muhammad Ali, Adviser to the Prime Minister on Privatisation. The review focused on steps required to complete the first closing of the Pakistan International Airlines Corporation Limited transaction.

According to the Privatisation Commission, the financial adviser briefed the board on progress toward meeting the conditions precedent set out in the Share Purchase and Subscription Agreement.

The briefing covered regulatory, financial and transactional requirements needed for completion of the first closing.

The board expressed satisfaction with the progress made so far and granted necessary approvals to facilitate the first closing of the transaction.

The commission said the government remained committed to advancing the privatisation programme in a transparent, competitive and professionally managed manner.

It said the programme was aimed at promoting efficiency, strengthening investor confidence and supporting sustainable economic reforms.

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