ISLAMABAD: The Public Accounts Committee (PAC) has directed the Auditor General to investigate the reasons behind huge decline in the revenues of Pakistan International Airlines.
Public Accounts Committee (PAC) Chairman Khursheed Shah directed the AG to submit an audit report within a month.
The officials told the PAC that the revenue of the national flag carrier was Rs94.5 billion in 2009, Rs107.5 billion in 2010, Rs116.6 billion in 2011 and Rs112.13 billion in 2012.
Shah asked the officials what happened in 2013 that the revenue witnessed huge decline to Rs18-20 billion. He also drew an interesting comparison of food and cabin-crew behaviour between the national flag carrier and leading international airlines.
The committee was told that the PIA had liabilities of Rs320 billion, and equity had turned negative by Rs179 billion. The PAC was in a state of disbelief when the PIA officials informed them that the total worth of the airline’s assets in the country, including land and buildings, was a mere Rs8.72 billion.
The PAC was also informed that PIA had 14,704 permanent and 3,500 contractual employees, as well as 57 general managers and 19 directors.
