Karachi: Fauji Fertilizer Company Limited has announced its prequalification for the divestment process of Pakistan International Airlines Corporation Limited (PIACL), following approval from the Privatisation Commission. The disclosure was made in compliance with Sections 96 and 131 of the Securities Act, 2015, and Regulation 5.6.1 of the Pakistan Stock Exchange Regulations.

According to a letter dated July 09, 2025, from the Privatisation Commission, Fauji Fertilizer's Statement of Qualification was deemed compliant, allowing the company to commence due diligence on PIACL. This development was also reported in several newspapers on the same date. The company's Board of Directors has authorized the initiation of buy-side due diligence to assess the potential acquisition of PIACL.

The Privatisation Commission Board has approved the prequalification of four interested parties, including Fauji Fertilizer, to engage in the competitive bidding process for PIACL's divestment. According to information available from the Pakistan Stock Exchange (PSX), any binding arrangement related to the proposed transaction is contingent upon the outcome of the due diligence, submission and acceptance of a competitive bid, execution of definitive agreements, and fulfillment of all necessary corporate and regulatory approvals.

Fauji Fertilizer has committed to keeping the PSX updated on any further material developments regarding the proposed transaction. The company has requested the dissemination of this information to TREC Holders of the Exchange.