Pakistan International Airlines Corp (PSX: PIAA) issued a categorical clarification on Thursday, firmly denying any assertions regarding the shifting of loans and clearance of debts at the current juncture.
This clarification from PIAA comes in response to circulating news reports suggesting the clearance of PIA’s liabilities and debts.
The company asserts that such reports may have been derived from the press release issued by the Privatization Commission, alongside advertisements pertaining to PIA’s divestment, the Scheme of Arrangement (SOA), and the Teaser released on the Privatization Commission’s website recently.
According to PIAA, the Scheme of Arrangement outlined the transfer of PIACL’s debt to the newly established Holding Company, which may have been misinterpreted in the aforementioned news reports.
The notice reiterates that despite ongoing media coverage on PIA’s restructuring, no official statement has been released by the company itself. It suggests that sources for such information are likely government entities involved in the matter.
Given the public interest surrounding the issue and the government’s determination to progress with it, PIAA anticipates continued media scrutiny and coverage of the restructuring process.
