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Business Economy Pakistan Trending Now

PIA Incurred a Loss of 156 Billion Rupees in One Year, Federal Minister Reveals

Islamabad: The caretaker Federal Minister for Aviation Fawad Hasan has stated that Pakistan International Airlines (PIA) incurred a loss of 156 billion rupees in one year.

Addressing a press conference after a federal cabinet meeting, Federal Minister Fawad Hasan further stated that PIA’s overall loss is 713 billion rupees. Out of the total 34 aircraft, 15 are grounded, and 19 are operational.

He emphasized that they are making efforts to speed up the process of privatization of PIA, but no employee will be rendered jobless. The federal minister mentioned that there are certain sectors are incurring constant losses, which are now unbearable, and this is adversely affecting the government’s financial standing. He stressed the need for privatization of such sectors is necessary.

The caretaker Federal Minister Fawad Hasan also mentioned that he has always presented arguments for the national aviation company’s privatization at every stage.  He said that the Cabinet members may have differing opinions on this matter, but if the Prime Minister makes a final decision on this issue, he will fully support it.

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