{"id":77580,"date":"2025-06-16T16:46:34","date_gmt":"2025-06-16T11:46:34","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=77580"},"modified":"2025-06-16T16:46:34","modified_gmt":"2025-06-16T11:46:34","slug":"fauji-fertilizer-interested-in-buying-shares-of-pia","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/fauji-fertilizer-interested-in-buying-shares-of-pia\/","title":{"rendered":"Fauji Fertilizer interested in buying shares of PIA"},"content":{"rendered":"

ISLAMABAD: Fauji Fertilizer Company Limited<\/a> (FFC), <\/span>a<\/span>\u00a0<\/span>leading<\/span>\u00a0<\/span>fertilizer<\/span>\u00a0<\/span>manufacturer<\/span>\u00a0<\/span>of<\/span>\u00a0<\/span>Pakistan<\/span>, has officially declared its interest <\/span>in\u00a0<\/span>buying<\/span>\u00a0shares of Pakistan International Airlines Corporation Limited (PIACL)<\/span>,<\/span>\u00a0<\/span>the<\/span>\u00a0<\/span>national airline of Pakistan, which is underway<\/span>\u00a0<\/span>to<\/span>\u00a0<\/span>be<\/span>\u00a0<\/span>privatized.<\/p>\n

FFC announced<\/span> its notice to the Pakistan Stock Exchange<\/a> (PSX) on Monday. <\/span>Board of Directors of Fauji Fertilizer Company Limited (FFC) <\/span>at<\/span>\u00a0234th Board of Directors meeting\u00a0<\/span>of<\/span>\u00a0<\/span>June 13, 2025\u00a0<\/span>have<\/span>\u00a0<\/span>authorized<\/span>\u00a0submission of Expression of Interest (EoI) and prequalification documents to the Privatization Commission\u00a0<\/span>for their consideration\u00a0<\/span>in\u00a0<\/span>connection<\/span>\u00a0<\/span>with<\/span>\u00a0<\/span>possible<\/span>\u00a0<\/span>acquisition of\u00a0<\/span>shares<\/span>\u00a0in Pakistan International Airlines Corporation Limited<\/a> (PIACL), and\u00a0<\/span>conducting<\/span>\u00a0a\u00a0<\/span>thorough<\/span>\u00a0due diligence\u00a0<\/span>process<\/span>\u00a0in this\u00a0<\/span>context,”<\/span>\u00a0<\/span>stated<\/span>\u00a0the notice.<\/p>\n

Incorporated in Pakistan as a public\u00a0<\/span>company\u00a0<\/span>limited\u00a0<\/span>by shares<\/span>, FFC is\u00a0<\/span>involved<\/span>\u00a0in the\u00a0<\/span>production<\/span>,\u00a0<\/span>acquisition<\/span>, and\u00a0<\/span>sale<\/span>\u00a0of fertilizers and chemicals.\u00a0<\/span>FFC<\/span>\u00a0<\/span>also\u00a0<\/span>makes<\/span>\u00a0investments in other fertilizer, chemicals, cement, food processing, energy generation, and banking\u00a0<\/span>activities<\/span>.<\/p>\n

<\/span>On the other hand<\/span>, PIACL,\u00a0<\/span>which is\u00a0<\/span>a public\u00a0<\/span>company\u00a0<\/span>limited\u00a0<\/span>by shares<\/span>, is the\u00a0<\/span>national\u00a0<\/span>flag carrier airline of Pakistan. The Government of Pakistan (GOP),\u00a0<\/span>by and\u00a0<\/span>through PIA Holding Company Limited,\u00a0<\/span>holds<\/span>\u00a0<\/span>nearly<\/span>\u00a096% of the issued capital of PIA.<\/p>\n

PIA is a\u00a0<\/span>complete\u00a0<\/span>service airline,\u00a0<\/span>offering<\/span>\u00a0aviation services\u00a0<\/span>backed<\/span>\u00a0by its ancillary\u00a0<\/span>business units<\/span>.\u00a0<\/span>PIA served\u00a0<\/span>nearly<\/span>\u00a04 million passengers\u00a0<\/span>to<\/span>\u00a030 destinations<\/span>\u00a0in the previous financial year<\/span>,\u00a0<\/span>operating<\/span>\u00a0<\/span>268 flights\u00a0<\/span>weekly<\/span>.<\/p>\n

<\/span>The government\u00a0<\/span>last month<\/span>\u00a0<\/span>also<\/span>\u00a0<\/span>extended the\u00a0<\/span>date<\/span>\u00a0to\u00a0<\/span>receive<\/span>\u00a0EoI for\u00a0<\/span>the<\/span>\u00a0<\/span>acquisition of\u00a0<\/span>PIACL\u00a0<\/span>up<\/span>\u00a0<\/span>to\u00a0<\/span>June 19, 2025, from the\u00a0<\/span>previous<\/span>\u00a0June 3\u00a0<\/span>date<\/span>, with all terms and conditions\u00a0<\/span>intact<\/span>.<\/p>\n

The government has been\u00a0<\/span>trying<\/span>\u00a0to\u00a0<\/span>offload<\/span>\u00a0a 51-100% stake in the\u00a0<\/span>loss<\/span>–<\/span>making<\/span>\u00a0carrier to raise\u00a0<\/span>finances<\/span>\u00a0and\u00a0<\/span>restructure<\/span>\u00a0cash-<\/span>sapping<\/span>, state-owned enterprises (SOEs) as\u00a0<\/span>contemplated<\/span>\u00a0under a $7 billion International Monetary Fund\u00a0<\/span>program<\/span>\u00a0(IMF).<\/p>\n

It\u00a0<\/span>missed<\/span>\u00a0<\/span>the first\u00a0<\/span>bid<\/span>\u00a0to\u00a0<\/span>privatize<\/span>\u00a0the PIA last year\u00a0<\/span>when<\/span>\u00a0<\/span>it<\/span>\u00a0<\/span>received\u00a0<\/span>a single\u00a0<\/span>bid<\/span>,\u00a0<\/span>which<\/span>\u00a0<\/span>was<\/span>\u00a0<\/span>much lower than the minimum <\/span>price of\u00a0<\/span>over<\/span>\u00a0<\/span>$300 million.<\/p>\n

Blue World City consortium\u00a0<\/span>did<\/span>\u00a0<\/span>not<\/span>\u00a0<\/span>agree<\/span>\u00a0<\/span>to<\/span>\u00a0<\/span>meet<\/span>\u00a0<\/span>the Privatisation Commission<\/span>‘s<\/span>\u00a0<\/span>minimum expectation\u00a0<\/span>of Rs85.03 billion and\u00a0<\/span>remained<\/span>\u00a0<\/span>adamant<\/span>\u00a0<\/span>on\u00a0<\/span>its\u00a0<\/span>initial<\/span>\u00a0offer of Rs10 billion for a 60% stake in the PIA,\u00a0<\/span>bringing<\/span>\u00a0the bidding process of\u00a0<\/span>privatisation of\u00a0<\/span>the national flag carrier<\/span>\u00a0<\/span>to an end<\/span>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD: Fauji Fertilizer Company Limited (FFC), a\u00a0leading\u00a0fertilizer\u00a0manufacturer\u00a0of\u00a0Pakistan, has officially declared its interest in\u00a0buying\u00a0shares of Pakistan International Airlines Corporation Limited (PIACL),\u00a0the\u00a0national airline of Pakistan, which is underway\u00a0to\u00a0be\u00a0privatized. FFC announced its notice to the Pakistan Stock Exchange (PSX) on Monday. Board of Directors of Fauji Fertilizer Company Limited (FFC) at\u00a0234th Board of Directors meeting\u00a0of\u00a0June 13, 2025\u00a0have\u00a0authorized\u00a0submission of […]<\/p>\n","protected":false},"author":9,"featured_media":77582,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[29490,29492,29491],"class_list":["post-77580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-fauji-fertilizer-company-limited","tag-pakistan-stock-exchnage","tag-pia-shares"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/77580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=77580"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/77580\/revisions"}],"predecessor-version":[{"id":77583,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/77580\/revisions\/77583"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/77582"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=77580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=77580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=77580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}