KARACHI: Another big milestone achieved from once defaulting PakistanInternational Airlines PIA.
The Pakistan Stock Exchange (PSX) on Friday announced that it has removedPakistan International Airline (PIA) from its defaulters’ segment.
The national flag carrier was placed on the list in October 2018 forfailure to hold an annual meeting and submit a statement of auditedaccounts for the year ending December 2017.
In May 2019, the PSX had further warned PIA to comply with financialdisclosure laws in order to avert suspension of trading in its shares.
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The company was given until May 21, 2019, to avoid immediate suspensionkeeping investor interests in mind.
On Friday, PSX announced that PIA has now rectified the regulatory clauses5.11.1(c) & (d) of PSX Regulations, and “therefore its name has been liftedoff the defaulters’ segment of the exchange”, with effect from Monday(January 27).
