Karachi: A consortium comprising prominent corporate entities, including Kohat Cement Company Limited, Lucky Cement Limited, Hub Power Holdings Limited, and Metro Ventures (Private) Limited, has been shortlisted for potential acquisition of a significant equity stake in Pakistan International Airlines Corporation Limited (PIACL). The Government of Pakistan is offering the equity stake through a privatization process, with the consortium expressing interest in acquiring a 51% to 100% share along with management control.

The announcement was made in accordance with the Securities Act, 2015, and the PSX Regulations, as Kohat Cement Company Limited disclosed material information regarding their involvement. The initiative is part of a broader effort by the Pakistan government to privatize the national airline, and the consortium has now advanced to the next stage of the process. This development allows them to conduct financial, technical, and legal due diligence on PIACL, as detailed by the Privatisation Commission.

According to information available from the Pakistan Stock Exchange (PSX), the consortium has not yet entered any binding commitments for the equity acquisition. The consortium plans to proceed cautiously, ensuring that any final decision will depend on the satisfactory completion of due diligence, obtaining all necessary corporate and regulatory approvals, and determining the commercial viability of the transaction. The equity stake will eventually be offered through a competitive bidding process, adhering to applicable privatization laws.

The consortium’s intention at this stage is limited to a comprehensive due diligence exercise to evaluate the potential acquisition's feasibility. The outcome of this evaluation will guide subsequent steps in the process. Kohat Cement Company Limited has communicated that TRE Certificate holders of the Exchange have been informed of these developments.