KARACHI: In a strategic repositioning move, the Army Welfare Trust (AWT) has transferred 51% of its shares in Askari Life Assurance Company Limited (ALAC) to the Fauji Foundation (FF). The transaction was announced on July 8, 2026, and is conducted in accordance with provisions of the Securities Act, 2015, the Rule Book of Pakistan Stock Exchange, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

The Army Welfare Trust, a charitable organization focused on the welfare of army soldiers, previously held a significant 66.65% stake in ALAC. This recent transfer reduces AWT's holdings but maintains its strategic involvement. The Fauji Foundation, another charitable entity dedicated to supporting families of ex-servicemen through health, education, and human development initiatives, has acquired the shares at a carrying cost of Rs 7.71 per share.

According to information available from the Pakistan Stock Exchange (PSX), this transaction is significant within the designated market category. However, it does not constitute a merger or acquisition that would alter the market dynamics or competitive landscape. The transfer does not involve any material changes in the ultimate beneficial or economic control of Askari Life Assurance Company Limited. Both AWT and FF continue to operate under the oversight of their respective Committees of Administrations, ensuring their foundational mission remains intact.

This repositioning underscores the ongoing collaboration between AWT and FF, as both organizations continue to leverage their commercial investments to support their charitable activities. The transaction awaits necessary regulatory approvals and codal formalities to be finalized.