ISLAMABAD: Federal Finance Minister Dr Abdul Hafeez Shaikh has asked the PIA management to come up with concrete and practical suggestions for revamping and reorganising the national airlines.
The finance minister gave this directive to PIA high-ups at a briefing on the airlines during a meeting of the Cabinet Committee on Restructuring of Public Sector Enterprises here on Friday.PIA's Managing Director Captain Muhammad Aijaz Haroon informed the committee of the financial crisis being experienced by the national airlines and urged the government to provide financial support.
He said the PIA had not received the government's support since 2009 which had landed the airlines into a deficit.
The PIA MD and defence secretary jointly informed the committee of the financial situation of PIA covering the last one decade from 2001 to 2010, which included expenses, earnings, impact of the increase in oil prices, overstaffing, devaluation of Pakistani currency and its impact on the overall financial conditions of the airlines.
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