The Cabinet Committee on Restructuring (CCOR) on Friday flatly refused to extend any further financial assistance to Pakistan International Airlines (PIA) management until the recommendations of the committee were not adopted for making changes in the organisation’s management structure.
An official source said the PIA management had sought financial assistance of Rs 20 billion to bring the national flag carrier out of the financial crisis. However, the committee noted that no amount of financial assistance could bring the airline out of financial crisis until its management was not improved. The source said unlike power sector entities, PIA was a more influential organisation as it fell under the Ministry of Defence and stringent reformation steps, like change in management and appointment of professionals, could not be imposed by the committee.
