Fatima Fertilizer Expresses Interest in PIA Privatization

Fatima Fertilizer Company Limited (FATIMA) has officially submitted an Expression of Interest (EOI) alongside a Statement of Qualification (SOQ) to Pakistan’s Privatisation Commission (PC). This submission demonstrates FATIMA’s intent to participate in the ongoing privatization process of Pakistan International Airlines Corporation Limited (PIACL).

FATIMA’s involvement is as a consortium member under the leadership of Arif Habib Corporation Limited (AHCL). Public notifications confirming this development were independently released by both FATIMA and AHCL to the Pakistan Stock Exchange (PSX) earlier today.

According to an official notification from the PC, FATIMA, AHCL, City Schools (Private) Limited, and Lake City Holdings (Private) Limited have successfully pre-qualified to engage in the bidding phase, as stated in FATIMA’s released notice.

“The pre-qualified entities will now advance into the buy-side due diligence phase, a critical step in the competitive and transparent privatization of PIACL,” the company stated.

The notice further clarified that the consortium’s continued participation hinges on the outcomes of the due diligence process and subsequent guidance from its Board of Directors.

The government is planning to divest equity in PIA through a competitive bidding mechanism.

Pakistan aims to offload a stake ranging from 51% to 100% in the financially challenged national airline. This move is part of a broader strategy to generate revenue and overhaul struggling state-owned enterprises, a key objective outlined in the $7 billion agreement with the International Monetary Fund.