Fast Cables joins consortium for PIA privatisation process

Fast Cables Limited has announced its participation in a consortium formed to bid for the privatisation of Pakistan International Airlines Corporation Limited (PIACL).

 

According to the material information submitted to the Pakistan Stock Exchange on August 24, 2026, Fast Cables’ Board of Directors approved its participation in a consortium comprising Fast Cables Limited, AKD Securities Limited, AJCL (Private) Limited, and Mughal Iron & Steel Industries Limited.

 

The consortium has irrevocably appointed AKD Securities Limited as the Lead Consortium Member, authorising it to represent the consortium and conduct business on behalf of Fast Cables and the other consortium members in relation to the privatisation process.

 

However, Fast Cables clarified that it has not yet assumed any binding obligation regarding the transaction. The proposed transaction remains subject to pre-qualification by the Privatisation Commission and all applicable regulatory and other approvals.

 

Key takeaway: Fast Cables has formally entered the consortium pursuing the PIA privatisation, but the company stressed that its participation is not yet a binding commitment and remains conditional on the required approvals.