Official account of the Ministry of Privatisation, Government of Pakistan, advancing transparent and rules-based privatisation and public sector reform.
Government of Pakistan
Ministry of Privatisation /
Privatisation Commission
Press Release
Islamabad, May 20, 2026
Privatisation Commission Board Reviews Progress on First Closing of PIACL Privatisation Transaction
The Privatisation Commission (PC) Board, in its 252nd meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, reviewed the progress on the first closing of the privatisation transaction of Pakistan International Airlines Corporation Limited (PIACL).
During the meeting, the Financial Adviser briefed the Board on the progress achieved towards the fulfilment of the conditions precedent outlined in the Share Purchase and Subscription Agreement (SPSA), including key regulatory, financial, and transactional requirements necessary for completion of the first closing.
The Board expressed satisfaction with the progress made so far and granted the necessary approvals to facilitate the materialisation of the first closing of the transaction.
The Board reaffirmed the Governmentโs commitment to advancing the privatisation programme in a transparent, competitive, and professionally managed manner aimed at promoting efficiency, strengthening investor confidence, and supporting sustainable economic reforms.
Spokesperson
Privatisation Commission of Pakistan.
๐ฃ๐ฟ๐ถ๐๐ฎ๐๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐๐ผ๐บ๐บ๐ถ๐๐๐ถ๐ผ๐ป ๐๐ผ๐ฎ๐ฟ๐ฑ ๐ฅ๐ฒ๐๐ถ๐ฒ๐๐ ๐ฃ๐ฟ๐ผ๐ด๐ฟ๐ฒ๐๐ ๐ผ๐ป ๐๐ถ๐ฟ๐๐ ๐๐น๐ผ๐๐ถ๐ป๐ด ๐ผ๐ณ ๐ฃ๐๐๐๐ ๐ฃ๐ฟ๐ถ๐๐ฎ๐๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐ง๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป
The Privatisation Commission (PC) Board, in its 252nd meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, reviewed the progress on the first closing of the privatisation transaction of Pakistan International Airlines Corporation Limited (PIACL).
During the meeting, the Financial Adviser briefed the Board on the progress achieved towards the fulfilment of the conditions precedent outlined in the Share Purchase and Subscription Agreement (SPSA), including key regulatory, financial, and transactional requirements necessary for completion of the first closing.
The Board expressed satisfaction with the progress made so far and granted the necessary approvals to facilitate the materialisation of the first closing of the transaction.
The Board reaffirmed the Governmentโs commitment to advancing the privatisation programme in a transparent, competitive, and professionally managed manner aimed at promoting efficiency, strengthening investor confidence, and supporting sustainable economic reforms.
#Privatisation #Pakistan #PIA #PIACL #EconomicReforms #InvestmentInPakistan #Aviation #PublicSectorReform
@PrivComPakistan@Financegovpk@GovtofPakistan@PakPMO@MoIB_Official
โThe Privatisation Commission will engage with potential investors and power sector stakeholders to refine the existing DISCO tariff structure, MYT regime, business model, and framework for competitive suppliers. The proposed reforms aim to create a performance and efficiency based return regime while enabling private sector buyers to leverage DISCO infrastructure and customer base for additional business opportunities. These measures are expected to support faster and more effective private sector participation in Pakistanโs power supply business.โ
Muhammad Ali
Advisor to the Prime Minister/ Chairman, Privatisation Commission of Pakistan
A proud moment as Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission, was conferred with the prestigious award โHilal-i-Imtiazโ in recognition of his exceptional contributions towards energy sector, visionary leadership, and outstanding public service.
The investiture ceremony marks national recognition of his commitment to institutional excellence.
Through his leadership across key national initiatives, including critical reforms in the power sector, he has played an instrumental role in strengthening governance and driving impactful change for the country.
This honour reflects a legacy of dedication, integrity, and service to the nation.
#HilalEImtiaz #MuhammadAli #InvestitureCeremony #PrivatisationCommission #MinistryOfPrivatisation #GovernmentOfPakistan #Leadership #PublicService #EconomicReforms #Pakistan #NationalRecognition #ServiceToNation
Government of Pakistan
Ministry of Privatisation
Privatisation Commission
Press Release
Islamabad, April 30, 2026
*Privatisation Commission Receives Notice of Intent for Acquisition of Remaining Stake in PIACL*
The consortium led by Arif Habib Corporation Limited (AHCL) has notified the Privatisation Commission of its intent to acquire the remaining 25% equity stake in Pakistan International Airlines Corporation Limited (PIACL), paving the way for full private-sector ownership of the national carrier.
Management control is expected to be transferred on or before May 25, 2026, the First Closing Date announced by the Privatisation Commission, subject to the fulfilment of Conditions Precedent set out in the Share Purchase and Subscription Agreement (SPSA) signed on January 29, 2026.
The notice of intent to acquire the remaining 25% equity stake (call option) has been accompanied by the requisite standby letter of credit and will be exercised in accordance with the terms of the SPSA.
Total private-sector investment in the transaction is expected to amount to approximately PKR 180 billion, comprising:
- A minimum of PKR 55 billion payable to the Government of Pakistan as divestment proceeds; and
- PKR 125 billion to be injected as fresh equity into PIACL to support the airlineโs recapitalisation.
The planned equity injection will support fleet expansion and modernisation, route development, and improvements in customer service and operational systems.
The consortium comprises Arif Habib Corporation Limited (AHCL), Fatima Fertilizer Company Limited, Lake City Holdings (Pvt) Limited, The City School (Pvt) Limited, AKD Group Holdings (Pvt) Limited, and Fauji Fertilizer Company (FFC) Limited. The Privatisation Commission, the consortium, the Government of Pakistan, and PIACL are working jointly to fulfil the conditions precedent ahead of the First Closing.
๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ ๐ผ๐ป ๐ฃ๐ฟ๐ถ๐๐ฎ๐๐ถ๐๐ฎ๐๐ถ๐ผ๐ป (๐ฃ๐๐)
๐ฃ๐ฟ๐ถ๐๐ฎ๐๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐๐ผ๐บ๐บ๐ถ๐๐๐ถ๐ผ๐ป ๐ฅ๐ฒ๐ฐ๐ฒ๐ถ๐๐ฒ๐ ๐ก๐ผ๐๐ถ๐ฐ๐ฒ ๐ผ๐ณ ๐๐ป๐๐ฒ๐ป๐ ๐ณ๐ผ๐ฟ ๐๐ฐ๐พ๐๐ถ๐๐ถ๐๐ถ๐ผ๐ป ๐ผ๐ณ ๐ฅ๐ฒ๐บ๐ฎ๐ถ๐ป๐ถ๐ป๐ด ๐ฆ๐๐ฎ๐ธ๐ฒ ๐ถ๐ป ๐ฃ๐๐๐๐
The consortium led by Arif Habib Corporation Limited (AHCL) has notified the Privatisation Commission of its intent to acquire the remaining 25% equity stake in Pakistan International Airlines Corporation Limited (PIACL), paving the way for full (100%) private-sector ownership of the national carrier.
Management control is expected to be transferred on or before May 25, 2026, the First Closing Date announced by the Privatisation Commission, subject to the fulfilment of Conditions Precedent set out in the Share Purchase and Subscription Agreement (SPSA) signed on January 29, 2026.
The notice of intent to acquire the remaining 25% equity stake (call option) has been accompanied by the requisite standby letter of credit and will be exercised in accordance with the terms of the SPSA.
Total private-sector investment in the transaction is expected to amount to approximately PKR 180 billion, comprising:
โข ๐ ๐บ๐ถ๐ป๐ถ๐บ๐๐บ ๐ผ๐ณ ๐ฃ๐๐ฅ ๐ฑ๐ฑ ๐ฏ๐ถ๐น๐น๐ถ๐ผ๐ป ๐ฝ๐ฎ๐๐ฎ๐ฏ๐น๐ฒ ๐๐ผ ๐๐ต๐ฒ ๐๐ผ๐๐ฒ๐ฟ๐ป๐บ๐ฒ๐ป๐ ๐ผ๐ณ ๐ฃ๐ฎ๐ธ๐ถ๐๐๐ฎ๐ป ๐ฎ๐ ๐ฑ๐ถ๐๐ฒ๐๐๐บ๐ฒ๐ป๐ ๐ฝ๐ฟ๐ผ๐ฐ๐ฒ๐ฒ๐ฑ๐; ๐ฎ๐ป๐ฑ
โข ๐ฃ๐๐ฅ ๐ญ๐ฎ๐ฑ ๐ฏ๐ถ๐น๐น๐ถ๐ผ๐ป ๐๐ผ ๐ฏ๐ฒ ๐ถ๐ป๐ท๐ฒ๐ฐ๐๐ฒ๐ฑ ๐ฎ๐ ๐ณ๐ฟ๐ฒ๐๐ต ๐ฒ๐พ๐๐ถ๐๐ ๐ถ๐ป๐๐ผ ๐ฃ๐๐๐๐ ๐๐ผ ๐๐๐ฝ๐ฝ๐ผ๐ฟ๐ ๐๐ต๐ฒ ๐ฎ๐ถ๐ฟ๐น๐ถ๐ป๐ฒโ๐ ๐ฟ๐ฒ๐ฐ๐ฎ๐ฝ๐ถ๐๐ฎ๐น๐ถ๐๐ฎ๐๐ถ๐ผ๐ป.
The planned equity injection will support fleet expansion and modernisation, route development, and improvements in customer service and operational systems.
The consortium comprises Arif Habib Corporation Limited (AHCL), Fatima Fertilizer Company Limited, Lake City Holdings (Pvt) Limited, The City School (Pvt) Limited, AKD Group Holdings (Pvt) Limited, and Fauji Fertilizer Company (FFC) Limited. The Privatisation Commission, the consortium, the Government of Pakistan, and PIACL are working jointly to fulfil the conditions precedent ahead of the First Closing.
#Privatisation #Pakistan #PIA #PIACL #InvestmentInPakistan #EconomicReforms #Aviation #SOEs
@PrivComPakistan@Financegovpk@Official_PIA@PakPMO@GovtofPakistan@MoIB_Official
Government of Pakistan
Ministry of Privatisation
Privatisation Commission
Press Release
Islamabad, April 29, 2026
*Privatisation Commission Board Recommends Transaction Structure for Privatisation of ZTBL*
The Privatisation Commission (PC) Board, in its 251st meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, made key recommendations to the Cabinet Committee on Privatisation (CCoP) regarding the privatisation of Zarai Taraqiati Bank Limited (ZTBL).
The Board endorsed the proposed transaction structure and a comprehensive restructuring plan for Zarai Taraqiati Bank Limited, following a detailed presentation by the financial adviser. The proposals were refined after extensive deliberations, with a focus on maximising value for the Government of Pakistan. These recommendations will now be submitted to the CCoP for consideration at its forthcoming meeting.
The Board reaffirmed its strong commitment to advancing the governmentโs privatisation agenda with efficiency, transparency, and strategic focus.
*Clarification*
With reference to a news item published in Business Recorder on April 29, 2026, regarding the privatisation process of the first batch of power distribution companies (DISCOs), the Privatisation Commission clarifies that the transaction structure and restructuring plans for Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO) were approved by the PC Board in its meeting held on April 14, 2026.
These will now be considered by the Cabinet Committee on Privatisation (CCoP) at its forthcoming meeting. Following approval by the CCoP, Expressions of Interest (EOIs) for the privatisation of the three DISCOs in the first batch will be invited.
๐ฃ๐ฟ๐ถ๐๐ฎ๐๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ
๐ฃ๐ ๐๐ผ๐ฎ๐ฟ๐ฑ ๐ฅ๐ฒ๐ฐ๐ผ๐บ๐บ๐ฒ๐ป๐ฑ๐ ๐ง๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป ๐ฆ๐๐ฟ๐๐ฐ๐๐๐ฟ๐ฒ ๐ณ๐ผ๐ฟ ๐ฃ๐ฟ๐ถ๐๐ฎ๐๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐ผ๐ณ ๐ญ๐ง๐๐
The Privatisation Commission (PC) Board, in its 251st meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, made key recommendations to the Cabinet Committee on Privatisation (CCoP) regarding the privatisation of Zarai Taraqiati Bank Limited (ZTBL).
The Board endorsed the proposed transaction structure and a comprehensive restructuring plan for Zarai Taraqiati Bank Limited, following a detailed presentation by the financial advisers. The proposals were refined after extensive deliberations, with a focus on maximising value for the Government of Pakistan. These recommendations will now be submitted to the CCoP for consideration at its forthcoming meeting.
The Board reaffirmed its strong commitment to advancing the governmentโs privatisation agenda with efficiency, transparency, and strategic focus.
๐๐น๐ฎ๐ฟ๐ถ๐ณ๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป
With reference to a news item published in Business Recorder on April 29, 2026, regarding the privatisation process of the first batch of power distribution companies (DISCOs), the Privatisation Commission clarifies that the transaction structure and restructuring plans for Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO) were approved by the PC Board in its meeting held on April 14, 2026.
These will now be considered by the Cabinet Committee on Privatisation (CCoP) at its forthcoming meeting. Following approval by the CCoP, Expressions of Interest (EOIs) for the privatisation of the three DISCOs in the first batch will be invited.
#Privatisation #Pakistan #EconomicReforms #PublicSectorReform #ZTBL #SOEs #InvestmentInPakistan #Governance
@PrivComPakistan@Financegovpk@MediaZtbl@GovtofPakistan@PakPMO@MoIB_Official
Press Release
Islamabad;16th April, 2026.
First Women Bankโs privatisation achieves financial close
The privatisation of First Women Bank Limited (FWBL) achieved financial close on Wednesday, 15 th April, 2026 with the transfer of management control and ownership of the bank to EVE Holding RSC Limited, following the fulfillment of all conditions precedent, including receipt of requisite regulatory approvals. Under the terms of the transaction, the Government has divested its entire 82.64% shareholding in FWBL marking a significant milestone in the countryโs privatization program, and bringing to successful conclusion a decade long effort to privatize the bank.
The privatisation of FWBL is expected to unlock the bankโs growth potential under private ownership by enhancing operational efficiency, fostering innovation, and improving service delivery, particularly in advancing financial inclusion for women. This achievement underscores the Governmentโs continued commitment to reducing its footprint in commercial enterprises, attracting quality investment, and promoting a dynamic, private sector-led economy.
Government of Pakistan
Ministry of Privatisation
Privatisation Commission
****
Press Release
Islamabad, April 14, 2026
PC Board Advances DISCOs' Privatisation, Approves Roosevelt Hotel Adviser
The Privatisation Commission (PC) Board, in its 250th meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, approved key recommendations for submission to the Cabinet Committee on Privatisation (CCoP) regarding the privatisation of the first batch of power distribution companies (DISCOs), namely Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO).
The Board approved the proposed transaction structure, pre-qualification criteria, and restructuring plans for each of the three DISCOs, thereby achieving a major milestone in the transaction process.
The recommendations of the PC Board will be submitted to the CCoP for consideration and approval at its forthcoming meeting. Following approval, Expressions of Interest (EOIs) will be invited from prospective investors.
The Board noted that the proposed framework is designed to attract credible private sector participation and unlock value in the power distribution sector.
The Board also reviewed the reforms proposed for the post-privatisation regime framework presented by the Privatisation Commission. The envisaged reforms aim to ensure commercial sustainability, regulatory predictability, and service quality in the power distribution sector.
In a separate agenda item, the Board approved the consortium led by Citibank as the top-ranked bidder for appointment as Financial Adviser for the privatisation of the Roosevelt Hotel, New York. The Board also constituted a negotiation committee to finalise the Financial Advisory Services Agreement (FASA) with the successful consortium.
The Board reaffirmed its commitment to advancing the governmentโs privatisation programme in a transparent, efficient, and results-oriented manner, with a focus on the timely execution of key transactions.
Fact Check: Committed to truth and transparency. ๐ Beware of fake news and misleading reports. We officially clarify that NO agreement regarding the Islamabad International Airport has been cancelled. Always verify through official channels! โ
#FactCheck#Misinformation #IslamabadAirport #TruthAndReality #MinistryOfPrivatisation #Transparency #OfficialUpdate
Serving the heart of Punjab's industrial hubs! GEPCOโs extensive grid infrastructure provides reliable energy to 4.71 million consumers. We are seeking private sector excellence to further optimize operations and enhance service efficiency. ๐ค๐๏ธ #GEPCO#ConsumerReach #IndustrialHub #PrivateSectorExcellence #EnergyReliability #MinistryOfPrivatisation #PunjabRegion
Showcasing massive growth potential in Pakistan's energy sector! GEPCO has successfully delivered 10,573 GWh of energy. This impressive output highlights strong operational efficiency and exceptional investment prospects for the future. ๐ญ๐
#GEPCO#EnergySector #InvestmentOpportunities #OperationalEfficiency #PowerDistribution #MinistryOfPrivatisation #FutureReady
๐ฃ๐ฟ๐ถ๐๐ฎ๐๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ
๐ฃ๐ ๐๐ผ๐ฎ๐ฟ๐ฑ ๐๐ฑ๐๐ฎ๐ป๐ฐ๐ฒ๐ ๐๐๐ฆ๐๐ข๐' ๐ฃ๐ฟ๐ถ๐๐ฎ๐๐ถ๐๐ฎ๐๐ถ๐ผ๐ป, ๐๐ฝ๐ฝ๐ฟ๐ผ๐๐ฒ๐ ๐ฅ๐ผ๐ผ๐๐ฒ๐๐ฒ๐น๐ ๐๐ผ๐๐ฒ๐น ๐๐ฑ๐๐ถ๐๐ฒ๐ฟ
The Privatisation Commission (PC) Board, in its 250th meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, approved key recommendations for submission to the Cabinet Committee on Privatisation (CCoP) regarding the privatisation of the first batch of power distribution companies (DISCOs), namely Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO).
The Board approved the proposed transaction structure, pre-qualification criteria, and restructuring plans for each of the three DISCOs, thereby achieving a major milestone in the transaction process.
The recommendations of the PC Board will be submitted to the CCoP for consideration and approval at its forthcoming meeting. Following approval, Expressions of Interest (EOIs) will be invited from prospective investors.
The Board noted that the proposed framework is designed to attract credible private sector participation and unlock value in the power distribution sector.
The Board also reviewed the reforms proposed for the post-privatisation regime framework presented by the Privatisation Commission. The envisaged reforms aim to ensure commercial sustainability, regulatory predictability, and service quality in the power distribution sector.
In a separate agenda item, the Board approved the consortium led by Citibank as the top-ranked bidder for appointment as Financial Adviser for the privatisation of the Roosevelt Hotel, New York. The Board also constituted a negotiation committee to finalise the Financial Advisory Services Agreement (FASA) with the successful consortium.
The Board reaffirmed its commitment to advancing the governmentโs privatisation programme in a transparent, efficient, and results-oriented manner, with a focus on the timely execution of key transactions.
#Privatisation #Pakistan #EconomicReforms #PowerSector #InvestmentInPakistan #PublicSectorReform #EnergyReform #PPP
@Financegovpk@PrivComPakistan@PakPMO@GovtofPakistan@MoIB_Official
Maximizing value through transparent competition. Due to significant global investor interest, the government is shifting from G2G to an open bidding strategy for three major airports. We are committed to a transparent process to select leading operators. ๐ซ๐ผ Hashtags: #OpenBidding #AirportPrivatisation #InfrastructureInvestment #TransparentProcess #EconomicGrowth #MinistryOfPrivatisation #GlobalInvestors
Equal opportunities for all investors! ๐ Our transparent privatisation process guarantees a level playing field. Through objective evaluation and consistent rules, both domestic and foreign investors can compete equally in a truly competitive environment.
#LevelPlayingField #ForeignInvestment #DomesticInvestment #TransparentBidding #MinistryOfPrivatisation #InvestPakistan #EconomicOpportunity
Powering the heart of the nation! The IESCO network reliably serves 3.88 million consumers across the capital region. With a robust distribution network and advanced monitoring, we ensure continuous supply and dedicated consumer support. ๐๐ก
#IESCONetwork#CapitalRegion #EnergyInfrastructure #ConsumerSupport #SmartGrid #MinistryOfPrivatisation #ReliableEnergy
Charting a strategic course for Pakistanโs aviation sector! โ๏ธ We are aligning aviation growth with the nation's broader economic strategy to foster mutually beneficial collaborations and drive sustainable development.
#AviationGrowth#EconomicVision#StrategicCollaboration #Privatisation #PakistanEconomy #MinistryOfPrivatisation #AviationSector
Transparency and fairness are at the core of our operations. The Ministry of Privatisation strictly adheres to a purely economic and procedural basis, ensuring fair open bidding with zero political influence. A trustworthy process for a stronger economy. โ๏ธ๐ก๏ธ
#Transparency #FairBidding #EconomicGrowth #NoPoliticalInfluence #MinistryOfPrivatisation #InvestInPakistan #EqualOpportunity