Holding company seven-member BoD annnounced

In Local
March 26, 2024

The federal cabinet has announced a seven-member Board of Directors (BoD) of the Pakistan International Airline holding company as the government expedites the PIA privatization process, ARY News reported.

The federal cabinet has nominated Aslam R. Khan for the chairman slot of the BoD which was approved days earlier.

Secretaries of privatisation, finance and the aviation division will be part of the holding company’s BoD along with the chief executive officer of the PIA.

Reports had said that the Securities and Exchange Commission of Pakistan (SECP) regulations made it mandatory to obtain approval from the board for decisions regarding the PIA.

Read more: PIA privatization: Govt forms new board of directors

Earlier today, PIA restructured its board of directors to expedite the process of privatization of national flag carrier.

The appointment of the 11-member board was confirmed by the flag carrier via formal communication to the main bourse on Monday.

This reshuffle introduces mostly fresh faces to the PIA board. They include Dr. Aqdas Afzal, Sahibzada Rafat Raoof Ali, Haaris M. Chaudhry, Nadeem Karamat, and Tahira Raza.

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