PIACL privatization: PC asked to secure corporate guarantees, regulatory confirmations

The federal government has further tightened conditions attached to the ongoing privatisation of Pakistan International Airlines Corporation Limited (PIACL), directing the Privatisation Commission (PC) to secure firm corporate guarantees and regulatory confirmations to safeguard the integrity of the transaction. According to official documents and informed sources, the Cabinet Committee on Privatisation (CCoP), while approving key amendments in the transaction structure, has made it mandatory for Fatima Fertiliser Company Limited to provide an appropriate corporate guarantee ensuring that it will continue to remain a guarantor under the Share Purchase and Subscription Agreement (SPSA).