Islamabad (Lord Media): The privatization deal for the national airline has received all necessary domestic and international approvals. According to the Privatization Commission officials, all NOCs and other required consents for the completion of the national airline’s privatization deal have been secured, and the Share Purchase and Subscription Agreement has been signed with the successful bidder.
Officials from the Privatization Commission stated that at the time of the first closing, the shares and management control were transferred to the buyer. They further mentioned that the buyer will deposit the remaining amount at the first closing as per the agreement, with a payment of approximately 85 billion rupees.
The Privatization Commission indicated that steps are underway to complete the first closing by the end of June this year, after which the management control of the company will be transferred to the new buyer.
