KARACHI: The People’s Unity of Pakistan International Airlines (PIA) CBA union has announced to organise a protest at the Karachi airport on Friday against the privatisation of the national airline, ARY News reported.
The PIA Employees CBA union People’s Unity announced to organise a protest at Karachi’s Jinnah International Airport against the privatisation and bifurcation of the national entity.
The PIA CBA Union President Hidayatullah Khan said that they will record their protest against privatisation and bifurcation. He added that they will never accept the privatisation of the national airline at any cost.
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CCoP gave nod to privatise PIA
In a major development, the Cabinet Committee on Privatisation (CCoP) on Monday had given its nod to the privatisation of Pakistan International Airlines (PIA).
The decision was made during a meeting of the Cabinet Committee on Privatization (CCoP), with Finance Minister Senator Ishaq Dar in chair.
The meeting considered the proposal of the Privatisation Commission regarding the inclusion of Pakistan International Airlines Co. Ltd (PIACL) in the privatisation programme.
The CCoP after deliberation decided to include Pakistan International Airlines Co. Ltd (PIA) in the list of active privatisation projects of the ongoing privatisation programme, following an amendment in the law by the Parliament.
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Privatisation Division presented a summary of detailed updates regarding the privatization of the Roosevelt Hotel.
The CCoP after discussion gave concurrence to the Privatisation Commission for hiring of Financial Adviser to process/structure transactions of Roosevelt Hotel, New York, an asset of PIA Investment Limited (PIA-IL).
‘Rs259b losses’
Earlier, Aviation Minister Khawaja Saad Rafique warned that Pakistan International Airlines (PIA) may endure alarming losses of Rs259 billion by the year 2030 if urgent corrective measures are not implemented, which includes the transfer of its administrative control to the private sector.
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The federal minister made these remarks while speaking on the Senate floor after tabling “The Pakistan International Airlines Corporation (Conversion) (Amendment) Bill, 2023”.
Saad Rafique emphasised the necessity of Foreign Direct Investment (FDI) and granting administrative control to the private sector to sustain PIA. “The airline is facing a daunting debt burden of Rs742 billion,” he noted.
from ARY NEWS https://ift.tt/4ynRPKw
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