Pak Government Forms High-Level Committee To Restructure & Revive Pakistan International Airlines

Prime Minister Shehbaz Sharif on Wednesday constituted a high-level committee to restructure and revive the cash-strapped country's national carrier, Pakistan International Airlines (PIA).
    
The committee, headed by Finance Minister Ishaq Dar, would present its proposals and recommendations to the Federal Cabinet.
    
The committee would deliberate on the different options for the restructuring and revival of the PIA.
    
The ailing national carrier suffered a loss of Rs 38 billion in the first three months of this year, 171 per cent more than the corresponding period in 2022, an earlier report said.
    
During the first three months of the ongoing year, the national carrier only managed to earn Rs 61 billion. It suffered a loss of Rs 21 billion because of the appreciation of the dollar against the rupee. The rising oil prices and interest rates also played a role in PIA's mounting losses.
    
The aviation minister briefed the prime minister about the proposed route map and reformative measures for the uplift of the national flag carrier, The Express Tribune newspaper reported.
    
Prime Minister Sharif said the PIA could overcome the losses.
    
The meeting was told that the number of planes in the PIA fleet would have to be increased from 27 to 49, to steer the airline out of the current crisis.
    
Sharif said the PIA had lost the Europe and US routes owing to irresponsible statements by the previous government led by Imran Khan, inflicting the loss of billions of rupees.
    
He recalled that incompetent ministers of the previous government had victimised international investors, Chinese firms, and Turkish businessmen.
    
Calling the reformation process inevitable, Sharif told the meeting that the PIA could only progress if run by professional and administrative experts purely on a profit-and-loss basis.
    
He said the government was heading toward a policy mechanism in which its role would be confined to the policy-making, and facilitation of investors, businessmen, and companies.