Government of Pakistan Ministry of Privatisation / Privatisation Commission Press Release Islamabad, May 20, 2026 Privatisation Commission Board Reviews Progress on First Closing of PIACL Privatisation Transaction The Privatisation Commission (PC) Board, in its 252nd meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, reviewed the progress on the first closing of the privatisation transaction of Pakistan International Airlines Corporation Limited (PIACL). During the meeting, the Financial Adviser briefed the Board on the progress achieved towards the fulfilment of the conditions precedent outlined in the Share Purchase and Subscription Agreement (SPSA), including key regulatory, financial, and transactional requirements necessary for completion of the first closing. The Board expressed satisfaction with the progress made so far and granted the necessary approvals to facilitate the materialisation of the first closing of the transaction. The Board reaffirmed the Government’s commitment to advancing the privatisation programme in a transparent, competitive, and professionally managed manner aimed at promoting efficiency, strengthening investor confidence, and supporting sustainable economic reforms. Spokesperson Privatisation Commission of Pakistan.

𝗣𝗿𝗶𝘃𝗮𝘁𝗶𝘀𝗮𝘁𝗶𝗼𝗻 𝗖𝗼𝗺𝗺𝗶𝘀𝘀𝗶𝗼𝗻 𝗕𝗼𝗮𝗿𝗱 𝗥𝗲𝘃𝗶𝗲𝘄𝘀 𝗣𝗿𝗼𝗴𝗿𝗲𝘀𝘀 𝗼𝗻 𝗙𝗶𝗿𝘀𝘁 𝗖𝗹𝗼𝘀𝗶𝗻𝗴 𝗼𝗳 𝗣𝗜𝗔𝗖𝗟 𝗣𝗿𝗶𝘃𝗮𝘁𝗶𝘀𝗮𝘁𝗶𝗼𝗻 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 The Privatisation Commission (PC) Board, in its 252nd meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, reviewed the progress on the first closing of the privatisation transaction of Pakistan International Airlines Corporation Limited (PIACL). During the meeting, the Financial Adviser briefed the Board on the progress achieved towards the fulfilment of the conditions precedent outlined in the Share Purchase and Subscription Agreement (SPSA), including key regulatory, financial, and transactional requirements necessary for completion of the first closing. The Board expressed satisfaction with the progress made so far and granted the necessary approvals to facilitate the materialisation of the first closing of the transaction. The Board reaffirmed the Government’s commitment to advancing the privatisation programme in a transparent, competitive, and professionally managed manner aimed at promoting efficiency, strengthening investor confidence, and supporting sustainable economic reforms. #Privatisation #Pakistan #PIA #PIACL #EconomicReforms #InvestmentInPakistan #Aviation #PublicSectorReform @PrivComPakistan @Financegovpk @GovtofPakistan @PakPMO @MoIB_Official

“The Privatisation Commission will engage with potential investors and power sector stakeholders to refine the existing DISCO tariff structure, MYT regime, business model, and framework for competitive suppliers. The proposed reforms aim to create a performance and efficiency based return regime while enabling private sector buyers to leverage DISCO infrastructure and customer base for additional business opportunities. These measures are expected to support faster and more effective private sector participation in Pakistan’s power supply business.” Muhammad Ali Advisor to the Prime Minister/ Chairman, Privatisation Commission of Pakistan

A proud moment as Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission, was conferred with the prestigious award “Hilal-i-Imtiaz” in recognition of his exceptional contributions towards energy sector, visionary leadership, and outstanding public service. The investiture ceremony marks national recognition of his commitment to institutional excellence. Through his leadership across key national initiatives, including critical reforms in the power sector, he has played an instrumental role in strengthening governance and driving impactful change for the country. This honour reflects a legacy of dedication, integrity, and service to the nation. #HilalEImtiaz #MuhammadAli #InvestitureCeremony #PrivatisationCommission #MinistryOfPrivatisation #GovernmentOfPakistan #Leadership #PublicService #EconomicReforms #Pakistan #NationalRecognition #ServiceToNation

Government of Pakistan Ministry of Privatisation Privatisation Commission Press Release Islamabad, April 30, 2026 *Privatisation Commission Receives Notice of Intent for Acquisition of Remaining Stake in PIACL* The consortium led by Arif Habib Corporation Limited (AHCL) has notified the Privatisation Commission of its intent to acquire the remaining 25% equity stake in Pakistan International Airlines Corporation Limited (PIACL), paving the way for full private-sector ownership of the national carrier. Management control is expected to be transferred on or before May 25, 2026, the First Closing Date announced by the Privatisation Commission, subject to the fulfilment of Conditions Precedent set out in the Share Purchase and Subscription Agreement (SPSA) signed on January 29, 2026. The notice of intent to acquire the remaining 25% equity stake (call option) has been accompanied by the requisite standby letter of credit and will be exercised in accordance with the terms of the SPSA. Total private-sector investment in the transaction is expected to amount to approximately PKR 180 billion, comprising: - A minimum of PKR 55 billion payable to the Government of Pakistan as divestment proceeds; and - PKR 125 billion to be injected as fresh equity into PIACL to support the airline’s recapitalisation. The planned equity injection will support fleet expansion and modernisation, route development, and improvements in customer service and operational systems. The consortium comprises Arif Habib Corporation Limited (AHCL), Fatima Fertilizer Company Limited, Lake City Holdings (Pvt) Limited, The City School (Pvt) Limited, AKD Group Holdings (Pvt) Limited, and Fauji Fertilizer Company (FFC) Limited. The Privatisation Commission, the consortium, the Government of Pakistan, and PIACL are working jointly to fulfil the conditions precedent ahead of the First Closing.

𝗨𝗽𝗱𝗮𝘁𝗲 𝗼𝗻 𝗣𝗿𝗶𝘃𝗮𝘁𝗶𝘀𝗮𝘁𝗶𝗼𝗻 (𝗣𝗜𝗔) 𝗣𝗿𝗶𝘃𝗮𝘁𝗶𝘀𝗮𝘁𝗶𝗼𝗻 𝗖𝗼𝗺𝗺𝗶𝘀𝘀𝗶𝗼𝗻 𝗥𝗲𝗰𝗲𝗶𝘃𝗲𝘀 𝗡𝗼𝘁𝗶𝗰𝗲 𝗼𝗳 𝗜𝗻𝘁𝗲𝗻𝘁 𝗳𝗼𝗿 𝗔𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝗼𝗻 𝗼𝗳 𝗥𝗲𝗺𝗮𝗶𝗻𝗶𝗻𝗴 𝗦𝘁𝗮𝗸𝗲 𝗶𝗻 𝗣𝗜𝗔𝗖𝗟 The consortium led by Arif Habib Corporation Limited (AHCL) has notified the Privatisation Commission of its intent to acquire the remaining 25% equity stake in Pakistan International Airlines Corporation Limited (PIACL), paving the way for full (100%) private-sector ownership of the national carrier. Management control is expected to be transferred on or before May 25, 2026, the First Closing Date announced by the Privatisation Commission, subject to the fulfilment of Conditions Precedent set out in the Share Purchase and Subscription Agreement (SPSA) signed on January 29, 2026. The notice of intent to acquire the remaining 25% equity stake (call option) has been accompanied by the requisite standby letter of credit and will be exercised in accordance with the terms of the SPSA. Total private-sector investment in the transaction is expected to amount to approximately PKR 180 billion, comprising: • 𝗔 𝗺𝗶𝗻𝗶𝗺𝘂𝗺 𝗼𝗳 𝗣𝗞𝗥 𝟱𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 𝗽𝗮𝘆𝗮𝗯𝗹𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗼𝗳 𝗣𝗮𝗸𝗶𝘀𝘁𝗮𝗻 𝗮𝘀 𝗱𝗶𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗽𝗿𝗼𝗰𝗲𝗲𝗱𝘀; 𝗮𝗻𝗱 • 𝗣𝗞𝗥 𝟭𝟮𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 𝘁𝗼 𝗯𝗲 𝗶𝗻𝗷𝗲𝗰𝘁𝗲𝗱 𝗮𝘀 𝗳𝗿𝗲𝘀𝗵 𝗲𝗾𝘂𝗶𝘁𝘆 𝗶𝗻𝘁𝗼 𝗣𝗜𝗔𝗖𝗟 𝘁𝗼 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝘁𝗵𝗲 𝗮𝗶𝗿𝗹𝗶𝗻𝗲’𝘀 𝗿𝗲𝗰𝗮𝗽𝗶𝘁𝗮𝗹𝗶𝘀𝗮𝘁𝗶𝗼𝗻. The planned equity injection will support fleet expansion and modernisation, route development, and improvements in customer service and operational systems. The consortium comprises Arif Habib Corporation Limited (AHCL), Fatima Fertilizer Company Limited, Lake City Holdings (Pvt) Limited, The City School (Pvt) Limited, AKD Group Holdings (Pvt) Limited, and Fauji Fertilizer Company (FFC) Limited. The Privatisation Commission, the consortium, the Government of Pakistan, and PIACL are working jointly to fulfil the conditions precedent ahead of the First Closing. #Privatisation #Pakistan #PIA #PIACL #InvestmentInPakistan #EconomicReforms #Aviation #SOEs @PrivComPakistan @Financegovpk @Official_PIA @PakPMO @GovtofPakistan @MoIB_Official

Government of Pakistan Ministry of Privatisation Privatisation Commission Press Release Islamabad, April 29, 2026 *Privatisation Commission Board Recommends Transaction Structure for Privatisation of ZTBL* The Privatisation Commission (PC) Board, in its 251st meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, made key recommendations to the Cabinet Committee on Privatisation (CCoP) regarding the privatisation of Zarai Taraqiati Bank Limited (ZTBL). The Board endorsed the proposed transaction structure and a comprehensive restructuring plan for Zarai Taraqiati Bank Limited, following a detailed presentation by the financial adviser. The proposals were refined after extensive deliberations, with a focus on maximising value for the Government of Pakistan. These recommendations will now be submitted to the CCoP for consideration at its forthcoming meeting. The Board reaffirmed its strong commitment to advancing the government’s privatisation agenda with efficiency, transparency, and strategic focus. *Clarification* With reference to a news item published in Business Recorder on April 29, 2026, regarding the privatisation process of the first batch of power distribution companies (DISCOs), the Privatisation Commission clarifies that the transaction structure and restructuring plans for Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO) were approved by the PC Board in its meeting held on April 14, 2026. These will now be considered by the Cabinet Committee on Privatisation (CCoP) at its forthcoming meeting. Following approval by the CCoP, Expressions of Interest (EOIs) for the privatisation of the three DISCOs in the first batch will be invited.

𝗣𝗿𝗶𝘃𝗮𝘁𝗶𝘀𝗮𝘁𝗶𝗼𝗻 𝗨𝗽𝗱𝗮𝘁𝗲 𝗣𝗖 𝗕𝗼𝗮𝗿𝗱 𝗥𝗲𝗰𝗼𝗺𝗺𝗲𝗻𝗱𝘀 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗳𝗼𝗿 𝗣𝗿𝗶𝘃𝗮𝘁𝗶𝘀𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗭𝗧𝗕𝗟 The Privatisation Commission (PC) Board, in its 251st meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, made key recommendations to the Cabinet Committee on Privatisation (CCoP) regarding the privatisation of Zarai Taraqiati Bank Limited (ZTBL). The Board endorsed the proposed transaction structure and a comprehensive restructuring plan for Zarai Taraqiati Bank Limited, following a detailed presentation by the financial advisers. The proposals were refined after extensive deliberations, with a focus on maximising value for the Government of Pakistan. These recommendations will now be submitted to the CCoP for consideration at its forthcoming meeting. The Board reaffirmed its strong commitment to advancing the government’s privatisation agenda with efficiency, transparency, and strategic focus. 𝗖𝗹𝗮𝗿𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 With reference to a news item published in Business Recorder on April 29, 2026, regarding the privatisation process of the first batch of power distribution companies (DISCOs), the Privatisation Commission clarifies that the transaction structure and restructuring plans for Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO) were approved by the PC Board in its meeting held on April 14, 2026. These will now be considered by the Cabinet Committee on Privatisation (CCoP) at its forthcoming meeting. Following approval by the CCoP, Expressions of Interest (EOIs) for the privatisation of the three DISCOs in the first batch will be invited. #Privatisation #Pakistan #EconomicReforms #PublicSectorReform #ZTBL #SOEs #InvestmentInPakistan #Governance @PrivComPakistan @Financegovpk @MediaZtbl @GovtofPakistan @PakPMO @MoIB_Official

Press Release Islamabad;16th April, 2026. First Women Bank’s privatisation achieves financial close The privatisation of First Women Bank Limited (FWBL) achieved financial close on Wednesday, 15 th April, 2026 with the transfer of management control and ownership of the bank to EVE Holding RSC Limited, following the fulfillment of all conditions precedent, including receipt of requisite regulatory approvals. Under the terms of the transaction, the Government has divested its entire 82.64% shareholding in FWBL marking a significant milestone in the country’s privatization program, and bringing to successful conclusion a decade long effort to privatize the bank. The privatisation of FWBL is expected to unlock the bank’s growth potential under private ownership by enhancing operational efficiency, fostering innovation, and improving service delivery, particularly in advancing financial inclusion for women. This achievement underscores the Government’s continued commitment to reducing its footprint in commercial enterprises, attracting quality investment, and promoting a dynamic, private sector-led economy.

Government of Pakistan Ministry of Privatisation Privatisation Commission **** Press Release Islamabad, April 14, 2026 PC Board Advances DISCOs' Privatisation, Approves Roosevelt Hotel Adviser The Privatisation Commission (PC) Board, in its 250th meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, approved key recommendations for submission to the Cabinet Committee on Privatisation (CCoP) regarding the privatisation of the first batch of power distribution companies (DISCOs), namely Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO). The Board approved the proposed transaction structure, pre-qualification criteria, and restructuring plans for each of the three DISCOs, thereby achieving a major milestone in the transaction process. The recommendations of the PC Board will be submitted to the CCoP for consideration and approval at its forthcoming meeting. Following approval, Expressions of Interest (EOIs) will be invited from prospective investors. The Board noted that the proposed framework is designed to attract credible private sector participation and unlock value in the power distribution sector. The Board also reviewed the reforms proposed for the post-privatisation regime framework presented by the Privatisation Commission. The envisaged reforms aim to ensure commercial sustainability, regulatory predictability, and service quality in the power distribution sector. In a separate agenda item, the Board approved the consortium led by Citibank as the top-ranked bidder for appointment as Financial Adviser for the privatisation of the Roosevelt Hotel, New York. The Board also constituted a negotiation committee to finalise the Financial Advisory Services Agreement (FASA) with the successful consortium. The Board reaffirmed its commitment to advancing the government’s privatisation programme in a transparent, efficient, and results-oriented manner, with a focus on the timely execution of key transactions.

Fact Check: Committed to truth and transparency. 🛑 Beware of fake news and misleading reports. We officially clarify that NO agreement regarding the Islamabad International Airport has been cancelled. Always verify through official channels! ✅ #FactCheck #Misinformation #IslamabadAirport #TruthAndReality #MinistryOfPrivatisation #Transparency #OfficialUpdate

Serving the heart of Punjab's industrial hubs! GEPCO’s extensive grid infrastructure provides reliable energy to 4.71 million consumers. We are seeking private sector excellence to further optimize operations and enhance service efficiency. 🤝🏘️ #GEPCO #ConsumerReach #IndustrialHub #PrivateSectorExcellence #EnergyReliability #MinistryOfPrivatisation #PunjabRegion

Showcasing massive growth potential in Pakistan's energy sector! GEPCO has successfully delivered 10,573 GWh of energy. This impressive output highlights strong operational efficiency and exceptional investment prospects for the future. 🏭📊 #GEPCO #EnergySector #InvestmentOpportunities #OperationalEfficiency #PowerDistribution #MinistryOfPrivatisation #FutureReady

𝗣𝗿𝗶𝘃𝗮𝘁𝗶𝘀𝗮𝘁𝗶𝗼𝗻 𝗨𝗽𝗱𝗮𝘁𝗲 𝗣𝗖 𝗕𝗼𝗮𝗿𝗱 𝗔𝗱𝘃𝗮𝗻𝗰𝗲𝘀 𝗗𝗜𝗦𝗖𝗢𝘀' 𝗣𝗿𝗶𝘃𝗮𝘁𝗶𝘀𝗮𝘁𝗶𝗼𝗻, 𝗔𝗽𝗽𝗿𝗼𝘃𝗲𝘀 𝗥𝗼𝗼𝘀𝗲𝘃𝗲𝗹𝘁 𝗛𝗼𝘁𝗲𝗹 𝗔𝗱𝘃𝗶𝘀𝗲𝗿 The Privatisation Commission (PC) Board, in its 250th meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, approved key recommendations for submission to the Cabinet Committee on Privatisation (CCoP) regarding the privatisation of the first batch of power distribution companies (DISCOs), namely Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO). The Board approved the proposed transaction structure, pre-qualification criteria, and restructuring plans for each of the three DISCOs, thereby achieving a major milestone in the transaction process. The recommendations of the PC Board will be submitted to the CCoP for consideration and approval at its forthcoming meeting. Following approval, Expressions of Interest (EOIs) will be invited from prospective investors. The Board noted that the proposed framework is designed to attract credible private sector participation and unlock value in the power distribution sector. The Board also reviewed the reforms proposed for the post-privatisation regime framework presented by the Privatisation Commission. The envisaged reforms aim to ensure commercial sustainability, regulatory predictability, and service quality in the power distribution sector. In a separate agenda item, the Board approved the consortium led by Citibank as the top-ranked bidder for appointment as Financial Adviser for the privatisation of the Roosevelt Hotel, New York. The Board also constituted a negotiation committee to finalise the Financial Advisory Services Agreement (FASA) with the successful consortium. The Board reaffirmed its commitment to advancing the government’s privatisation programme in a transparent, efficient, and results-oriented manner, with a focus on the timely execution of key transactions. #Privatisation #Pakistan #EconomicReforms #PowerSector #InvestmentInPakistan #PublicSectorReform #EnergyReform #PPP @Financegovpk @PrivComPakistan @PakPMO @GovtofPakistan @MoIB_Official

Maximizing value through transparent competition. Due to significant global investor interest, the government is shifting from G2G to an open bidding strategy for three major airports. We are committed to a transparent process to select leading operators. 🛫💼 Hashtags: #OpenBidding #AirportPrivatisation #InfrastructureInvestment #TransparentProcess #EconomicGrowth #MinistryOfPrivatisation #GlobalInvestors

Equal opportunities for all investors! 🌍 Our transparent privatisation process guarantees a level playing field. Through objective evaluation and consistent rules, both domestic and foreign investors can compete equally in a truly competitive environment. #LevelPlayingField #ForeignInvestment #DomesticInvestment #TransparentBidding #MinistryOfPrivatisation #InvestPakistan #EconomicOpportunity

Powering the heart of the nation! The IESCO network reliably serves 3.88 million consumers across the capital region. With a robust distribution network and advanced monitoring, we ensure continuous supply and dedicated consumer support. 🔌💡 #IESCONetwork #CapitalRegion #EnergyInfrastructure #ConsumerSupport #SmartGrid #MinistryOfPrivatisation #ReliableEnergy

Charting a strategic course for Pakistan’s aviation sector! ✈️ We are aligning aviation growth with the nation's broader economic strategy to foster mutually beneficial collaborations and drive sustainable development. #AviationGrowth #EconomicVision #StrategicCollaboration #Privatisation #PakistanEconomy #MinistryOfPrivatisation #AviationSector

Transparency and fairness are at the core of our operations. The Ministry of Privatisation strictly adheres to a purely economic and procedural basis, ensuring fair open bidding with zero political influence. A trustworthy process for a stronger economy. ⚖️🛡️ #Transparency #FairBidding #EconomicGrowth #NoPoliticalInfluence #MinistryOfPrivatisation #InvestInPakistan #EqualOpportunity