LAHORE: The United Business Group of FPCCI said PIA has become a liability that should be sold immediately to reduce budget deficit. The business community fully supports decision of the government to get rid of the white elephant eating up scarce resources since decades with little chance of revival, it said.
Privatization of PIA has been delayed since long and now time has come to sell this corporation to save billions which are wasted on frequent bailouts, said Abdul Rauf Alam, Presidential candidate of UBG for FPCCI. He said that government should safeguard interests of employees of PIA and make it mandatory for buyers to continue operating flights on non-profitable domestic routes in the public interest.
Rauf Alam said that a flight to Gilgit take thirty minutes which going there by road requires eighteen hours journey, therefore such roots should not be closed keeping in view the convenience of public. He said that a government preferred socialist model and nationalised many institutions which proved to be a blunder that resulted in economic chaos.
Abdul Rauf Alam said that there is no justification is keeping an entity alive on bailouts which is under Rs 222 billion liabilities and paying billions as interest.
Other airlines have 150 to 200 staff per aeroplane while PIA employs over 700 employees per plane which has resulted in colossal losses. He said that unionism has left management of national flag carrier ineffective which has resulted in unjustified 17 percent hike in salaries of the bleeding company.
