In terms of Government of Pakistan, Ministry of Finance notification dated May 31, 2021, the privately placed Sukuk to be issued by Pakistan International Airlines Company Limited (PIACL) under the title of “PIA-Sukuk-I” shall be an approved security for maintenance of SLR under sub-section 1 of section 29 of the Banking Companies Ordinance, 1962.
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PIA Achieved Another Historic Mile Stone
Further, SLR eligibility limit (i.e. 7%) on Public Sector Sukuk shall be applicable on PIA Sukuk-I in accordance with the provisions of the Circular referred above.
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ECC approved USD17.3 million for PIA
