Important Meeting on Reform and Restructuring Plan of PIA
Islamabad (Daily Business Recorder / Monday, March 3, 2014) – Finance Minister Senator Mohammad Ishaq Dar chaired a meeting in Islamabad to review the reform and restructuring plan of PIA including strategic partnership.
Finance minister said over the year, mismanagement and structural inefficiencies in the state-owned enterprises (SOEs) have marred public sector governance.
He said that continuous injection of resources into the SOEs is fiscally not sustainable on an indefinite basis and the most viable option available is to restructure them through strategic partnership with the private sector through 26 percent offloading of shares. The minister said, “We aim to enhance welfare of the employees of the SOEs by making these organizations profitable and interest of the employees will be protected.
He said by injection of 26 percent private sector strategic partners will in no way hamper the overall status of the SOEs other than to improve their performance and to ensure capacity building of their employees.
Shujaat Azeem, PM”s Advisor on Aviation, briefed on the reforms being introduced in PIA. He also informed about the progress of leasing of more efficient airplanes to enhance the performance of the national carrier