Karachi: Fauji Fertilizer Company Limited announced its formal participation in a consortium bidding for the acquisition of Pakistan International Airlines Corporation Limited (PIACL), as per the disclosure made on December 24, 2025. The decision, made during a board meeting earlier in the day, aligns with the company’s strategic interests in expanding its investment portfolio.
The consortium, led by Arif Habib Corporation Limited, includes other notable members such as Fatima Fertilizer Company Limited, The Lake City Holdings (Private) Limited, AKD Group Holdings (Private) Limited, and City Schools (Private) Limited. This group emerged as the highest-ranked bidder in the privatization process conducted by the Privatisation Commission on December 23, 2025. The designated market category for this transaction is the Pakistan Stock Exchange.
According to information available from the Pakistan Stock Exchange (PSX), Fauji Fertilizer was previously granted approval for the Statement of Qualification related to this privatization effort. The company has now received authorization from its board to execute necessary agreements and documents with the consortium and the Privatisation Commission. This step is aimed at acquiring an equity stake in PIACL, either directly or through a specially formed entity.
The completion of this transaction is contingent upon several factors, including the issuance of a Letter of Acceptance by the Privatisation Commission to the consortium, the execution of definitive agreements, and the fulfilment of all requisite conditions, such as corporate and regulatory approvals. Fauji Fertilizer assured the PSX of continued updates regarding any significant developments in the process.