Fauji Fertiliser becomes a shareholder in the PIA consortium.

An important step in the privatisation of Pakistan International Airlines (PIA) has been taken with the induction of Fauji Fertiliser Company Limited as a partner in the consortium formed to buy the airline.

Fauji Fertiliser Company Limited is now officially a shareholder of PIA Equity Limited, according to a statement released by the consortium led by Arif Habib Corporation Limited. The national carrier will be fully owned by PIA Equity Limited as a result of this event.

Arif Habib Corporation Limited, Fatima Fertiliser Company Limited, Lake City Holdings, AKD Group, The City School Group, and Fauji Fertiliser Company Limited make up PIA Equity Limited’s revised shareholding structure.

PIA Equity Limited, which unites several institutional investors under a single structure, will act as the focal point for the purchase and operation of PIA Corporation Limited.

In order to successfully conclude the deal, which is viewed as a critical step towards reforming and revitalising the national airline, the consortium is continuing to work closely with Pakistan’s Privatisation Commission, according to the statement.