The Economic Coordination Committee (ECC) of the cabinet on Friday approved a bailout package of Rs 7 billion for the Pakistan International Airlines (PIA).
In a meeting held, with Finance Minister Ishaq Dar in the chair, decided that the national flag carrier would be privatised at the earliest and 30 percent of its shares would be sold to the public.
Oh please! Do not spend tax-payers money on this airline. It is doomed to die, how long can you keep it on life support?
PIA needs Swiss style restructuring. File bankruptcy and start new corporation with current fleet as its assets.
Rs 7 billion can provide jobs for thousands of people or provide schools, healthcare etc. While PIA is creating and mainlining jobs for few thousand connected people. Govt should privatize the airline and concentrate on building real infrastructure (i.e electrical power /solar power) that is needed to improve the economy.
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