Pakistan International Airlines (PIA) has been incurring a loss of Rs. 6 billion every month due to the coronavirus restrictions. The Chief Executive Officer (CEO) PIA, Air Marshal Arshad Malik, revealed this in a meeting with Prime Minister Imran Khan.
Federal 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 also attended the meeting.
During the meeting, with a core agenda of reforms and restructuring of the national airline, Malik apprised Prime Minister that annually Rs. 24 billion is spent on the payment of salaries to 14,500 employees.
Malik also shared updates on the investigations of the PIA plane crash, handing over bodies to bereaved families, and compensation payments to heirs.
He also submitted a timeline on the restructuring of the PIA and a comprehensive roadmap over reforms and implementation.
Addressing the meeting, the prime minister shared his views on how the country’s economy is nose-diving again due to the pandemic. He added that eventually, masses will have to bear the burden of billions of rupees in losses from state entities.
Due to the ongoing 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.
He reiterated his demand for austerity in the state-owned airliner, focus on increasing its income and financial resources and up-gradation of its fleet.
PM observed that PIA’s domestic and foreign assets require special attention in order to create financial resources for the organization instead of becoming a burden on the general public.