PIA incurring Rs6bn loss per month, PM told

ISLAMABAD: Pakistan International Airlines (PIA) Chief Executive Officer Air Marshal Arshad Malik on Monday apprised Prime Minister Imran Khan that in the prevailing situation, the national flag carrier was running into a loss of around Rs6 billion on a monthly basis.

A sum of Rs24 billion was being spent yearly on the payment of salaries to its 14,500 employees alone, the PIA CEO briefed the prime minister, who chaired a meeting on the reforms and restructuring of the national airline.

The CEO also apprised the PM about the progress on the investigation into the Karachi plane crash, handing over of bodies to their bereaved families and payment of compensation amount to the heirs of plane crash victims, the PM Office Media Wing in a press release said.

The meeting was attended by Aviation Minister Ghulam Sarwar Khan, Information and Broadcasting Minister Senator Shibli Faraz, Advisor to PM on Reforms Dr Ishrat Hussain, Special Assistant Lt Gen (r) Asim Salim Bajwa and other senior officials.

During the meeting, a timeline for the restructuring of the PIA and a comprehensive roadmap over reforms and implementation was also submitted before the prime minister.

Addressing the meeting, the PM said due to the coronavirus pandemic, the country’s economy was facing difficulties, adding that people had to bear the burden of billions of rupees losses on a monthly basis suffered by the state-owned entities.

He said under the current situation, it was imperative to expedite restructuring and reforms process in the PIA, which had been running into billions of rupees loss owing to Covid-19.

PM Imran stressed upon bringing down expenditures of the organization, focusing on increase in its income and financial resources and upgradation of its fleet.

He also directed that special attention should be paid so that the PIA-owned domestic and foreign assets, which could be utilized through a complete transparent and clear manner. The assets should create financial resources for the organization instead of becoming a burden on the general public, he observed.

Arshad Malik on the occasion also gave a detailed briefing on the restructuring, improvement in the financial discipline, better and effective utilization of the PIA’s assets, and strategy over other related issues.

He said due to the prevailing situation, the airlines industry throughout the world had been affected and reforms in that regard, were carried out in the organization.

6 COMMENTS

  1. In dire need of time, PIA needs new fleet which is now readily available in the market due pandemic. Secondly Cargo plane is the hot demand under current conditions.
    PIA can acquire new wide body planes at much less cost as compared to previous high price due thousands of airplane are grounded as many airlines shut downed.
    This is the ideal time to upgrade wide body aircraft for both passengers and cargo versions and to open new destinations around the world.

    Hadi Murad
    Airline Pilot

    • اسلام علیکم
      میں نی اپریل 6 کو ایم بى سى پارام جمع کیا اور ابھى تک جواب نہیں ملا اور میرا بهائى

  2. پاکستان انٹر نشنل ایر لین سے تعاون کریں اور ورلڈ ایر ٹریول سروس پرائویٹ لیمٹیڈ راولاکوٹ آذاد کشمیر کی خدمت حاصل کریں سردار فاروق کریم چیئرمین ورلڈ ہیومن رائیٹس آرگنائزشن راولاکوٹ پونچھ کشمیر

  3. PiA ne sawaye overseas pakistanio ko tang karne k aur kuch nahi kiya buhat se logo ki badwaye lagi hogi

  4. Investing any more resources in PIA will be futile. It is a sinkhole with no bottom. PIA has rotted down to its very core – it is simply beyond redemption. Whatever little confidence people had in it was deeply shaken by the Airbus crash – in broad daylight, perfect weather, a serviceable aircraft and by a seasoned pilot with over 17000 flying hours.
    Privatise the airline and get rid of it as fast as you can. It has already eaten trillions of rupees; a few more trillions Will not correct this multi headed monster.
    If you continue with this organisation, a few years down the line, you will have sunk precious assets ( Hotels Roosevelt and Scribe etc) and nothing to show for it. Be prudent Mr PM. Do not send good money after bad. PIA is the third worst airline in the world today; it can not move up but definitely has the potential to go down further two notches and be the very first from the bottom.

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