Islamabad: Pakistan International Airline (PIA), monthly faces deficit of Rs 32 Bilion, while the total loss of the department is Rs 152 Billion. These figures were presented by the Federal Secretary Finance Waqar Masood. A high level meeting by Senate Finance Committee for devising financial strategies was held at Islamabad’s Parliamentarian House, under the chairmanship of Nasreen Jalil. During the meeting, privatization of the local institutions was looked upon.
Briefing the committee on the occasion, the Federal Secretary Finance Waqar Masood told that the former government, PPP had decided of privatizing over 61 public institutions including PIA. No suggestion from IMF had been sought in this regard, he further spoke.
Federal Secretary Finance informed that PIA, the only international airline of Pakistan faces financial deficit of Rs 3 Billion monthly. The overall loss of the department has reached to figure or Rs 152 Billion, he stated. The finance in charge suggested that privatization of the institution would help to preserve rights of the employees.
Senator Haji Adeel said that profit yielding foreign routes have deliberately been ended.15 % benefit offered by Turkish airline had been declined. The Senator advised the national airline to bid its hotel to meet its financial deficit.
While, Senator Nasreen Jalil said that transparent method shall be adopted before privatizing the institutions. She opined the profit earning institutions shall not be privatized. Instead, steps shall be taken to restore the weak conditions of other institutions.
The Chairperson stated that the public shall not be deprived of their rights, because telecommunication system helps to establish country’s defense system. The meeting advised the related bodies to take into confidence the parliament and other institutions, before privatizing the only international airline of Pakistan, PIA.