- Govt’s privatisation postponement decision to cause Rs 21 billion losses
Employees of the Pakistan International Airlines (PIA) continued their protest against proposed privatisation of the national flag carrier for the fifth consecutive day on Saturday.
PIA employees have now been protesting against the proposal, since the government has postponed its plan to privatise the national airline for six months. The postponement will however cause a loss of Rs 21 billion.
According to estimates, PIA’s deficit rounded at Rs 19 billion from January 2015 to September 2015. However, by the end of the last year, the losses reached around Rs 23 billion.
The national airline purchased oil worth Rs 21 billion from January to September 2015 and in the same period, it saved around Rs 16 billion.
The total deficit of the national airline from 2011 to September 2015 reached Rs 155 billion. Per details, the PIA has withdrawn loans of more than Rs 100 billion to meet its expenditures and pay salaries to its employees. Adding the loans, PIA is now running in loss as humongous as Rs 350 billion.
As if it was not enough, the postponement of privatisation will cost another Rs 21 billion. As per calculations, the PIA will bear Rs 1.1 billion loss each day for the coming six months. The loss will increase the burden on people’s pockets.
The government has decided to postpone the proposed privatisation owing to four-day long protests in different cities by the airline’s employees. The employees shut PIA offices and locked gates across the country in protest demonstrations against the privatisation. The protesters continued to stage sit-in outside the PIA headquarters. On the fourth day, the employees rallied from the head office to Jinnah International Airport.
Senator Mushahidullah Khan on Friday announced the government’s decision in the matter during a press conference in the federal capital. Khan assured that the decision has been taken with consensus of all the stakeholders and that the salaries, privileges and perks of the employees would remain intact. He also said that no PIA official would be terminated.
The Government should hold back the subsidy they are paying to PIA. Not only, recover what has been paid. This is a do or die situation for both but Government should not bow to Union's black-mailing.
Alas!just to accomodate few corrupt peolple we are going to suffer the whole nation.Everyone have they personal intrest above from nationaional intrest.Govt should go with do or die option otherwise they will keep blackmailing in future.
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