RAWALPINDI: The board of directors of the PIA Holding Company approved the scheme of arrangement outlining the steps involved in Pakistan International Airlines’ privatisation during its inaugural meeting on Wednesday.

Former State Bank of Pakistan governor Tariq Bajwa chaired the inaugural meeting. The 11-member board included seven independent and four government directors.

The meeting was convened at the Secretary Aviation’s Office in Islamabad marking the official commencement of the company’s operations, a spokesman for PIA said.

The board endorsed the scheme of arrangement delineating the pathway for the privatisation of the national flag carrier. 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 PIA.

Published in Dawn, March 28th, 2024