ISLAMABAD: Senate Standing Committee on Privatization and Statistics has expressed reservation over mismanagement and non-transparency in Pakistan Airlines (PIA), which was piling up financial burden on national exchequer.
The committee recommended accountability and transparency mechanism for smooth functioning to bring it out of financial crisis.
The committee meeting, which discussed the privatization of PIA and its future prospect, was chaired by Senator Mohsin Aziz.
During the meeting State Minister for Privatization, Daniyal Aziz informed that PIA had earned no profit but the institution incurred loss of Rs 40 billion to national exchequer, which should have been allocated in people welfare schemes.
The minister said that privatization process in PIA started during last two years and management control of the institution would remain with the government.
He informed that according to privatization plan 49 percent of PIA shares would be sold out while the air transport business of PIA would be separated.
Daniyal Aziz said the government was committed to enhance the capacity of national institution and to make it profitable through competitiveness.
He said that transparency and accountability is hallmark of the government to evolve the mechanism for good governess for providing facilities to the people.
The committee meeting was attended by Senator Saleem Mandviwala,Muhammad Ilyas Bilour, Sherry Rehman , Nasreen Jalil, Khushbakht Shujat, Minister for Privatization, Daniyal Aziz and Senior officials of the ministry.
