AGL 39.58 Decreased By ▼ -0.42 (-1.05%)
AIRLINK 131.22 Increased By ▲ 2.16 (1.67%)
BOP 6.81 Increased By ▲ 0.06 (0.89%)
CNERGY 4.71 Increased By ▲ 0.22 (4.9%)
DCL 8.44 Decreased By ▼ -0.11 (-1.29%)
DFML 41.47 Increased By ▲ 0.65 (1.59%)
DGKC 82.09 Increased By ▲ 1.13 (1.4%)
FCCL 33.10 Increased By ▲ 0.33 (1.01%)
FFBL 72.87 Decreased By ▼ -1.56 (-2.1%)
FFL 12.26 Increased By ▲ 0.52 (4.43%)
HUBC 110.74 Increased By ▲ 1.16 (1.06%)
HUMNL 14.51 Increased By ▲ 0.76 (5.53%)
KEL 5.19 Decreased By ▼ -0.12 (-2.26%)
KOSM 7.61 Decreased By ▼ -0.11 (-1.42%)
MLCF 38.90 Increased By ▲ 0.30 (0.78%)
NBP 64.01 Increased By ▲ 0.50 (0.79%)
OGDC 192.82 Decreased By ▼ -1.87 (-0.96%)
PAEL 25.68 Decreased By ▼ -0.03 (-0.12%)
PIBTL 7.34 Decreased By ▼ -0.05 (-0.68%)
PPL 154.07 Decreased By ▼ -1.38 (-0.89%)
PRL 25.83 Increased By ▲ 0.04 (0.16%)
PTC 17.81 Increased By ▲ 0.31 (1.77%)
SEARL 82.30 Increased By ▲ 3.65 (4.64%)
TELE 7.76 Decreased By ▼ -0.10 (-1.27%)
TOMCL 33.46 Decreased By ▼ -0.27 (-0.8%)
TPLP 8.49 Increased By ▲ 0.09 (1.07%)
TREET 16.62 Increased By ▲ 0.35 (2.15%)
TRG 57.40 Decreased By ▼ -0.82 (-1.41%)
UNITY 27.51 Increased By ▲ 0.02 (0.07%)
WTL 1.37 Decreased By ▼ -0.02 (-1.44%)
BR100 10,504 Increased By 59.3 (0.57%)
BR30 31,226 Increased By 36.9 (0.12%)
KSE100 98,080 Increased By 281.6 (0.29%)
KSE30 30,559 Increased By 78 (0.26%)

The Cabinet Committee on Restructuring (CCOR) has failed to take any tangible decision to improve the performance of Pakistan International Airlines (PIA) during the last three years. A PIA official told this correspondent on condition of anonymity that the performance of the national flag carrier has significantly declined during the last three years due to unnecessary interference by the executive, delay in the approval of business plan by the CCOR and absence of accountability.
Sources in the Ministry Finance revealed that any financial support to the national flag carrier, without administrative changes, would be tantamount to throwing good money after bad. Sources revealed that PIA management welcomed a recent statement by the Secretary Defence, Nargis Sethi, during a meeting of National Assembly Standing Committee on Defence that PIA would be granted complete autonomy. They said that autonomy of PIA with the crucial element of accountability was critical to free the national flag carrier from all kinds of interference which would enable it to turn around its financial fortunes.
The PIA official added that the business plan had been presented to CCOR in 2009 but a decision on the plan remained pending. He further revealed that PIA restructuring plan was discussed by the CCOR and subsequently a meeting was also presided over by the then Prime Minister, Yousuf Raza Gilani, in which the management of the PIA was directed to improve the business plan. However, it was the last meeting held on the restructuring of PIA, according to him.
To a question purchase of new planes, he said that an agreement was signed last year with Boeing to purchase five new planes starting from 2015. He said that induction of new planes in the existing fleet was also part of a five-year business plan pending at the level's of CCoR and the Prime Minister. The PIA recently advertised a tender to hire on lease three to four planes to meet immediate requirement of forthcoming Hajj operation, the official added.
PIA has been handling more than one hundred thousand pilgrims during the Hajj season through 2500 to 3000 flights and existing fleet is not sufficient to cater to these needs. Hence it was decided to lease three to four planes for 32 days to ensure smooth Hajj operation, the official added.

Copyright Business Recorder, 2012

Comments

Comments are closed.