Privatisation is perhaps the best option to bring the airline out of its current financial predicament
ISLAMABAD: PIA, at the present time, is confronting a severe financial crisis that leaves the government with no choice but to privatise it. In the wake of the huge financial losses, to the tune of over Rs300 billion and losses of Rs10 crore a day as reported in the media, privatisation is perhaps the best option to bring the airline out of its current financial predicament. The question is what has led the organisation to this shocking state of affairs? The strongest of the umpteen reasons for the crisis that the national carrier has got entangled in is overstaffing and hefty salaries, perks and privileges being awarded to its employees at the top.
Treading the same path as other public-sector organisations, PIA has also continued to hire staff unnecessarily to oblige political bosses. In doing so, it has not only multiplied its woes but has brought the organisation to the brink of total collapse. Under the present dismal scenario, privatisation is the only viable option to salvage PIA, give it a turnaround, and steer it back on the path to progress in the larger national interest and also in the interest of the organisation and its employees. However, in doing so, it must be ensured by the government that the interest of those employees of the airline who have been hired on merit is fully safeguarded and no compromises are made in making the entire process of privatisation absolutely transparent.
M Fazal Elahi
Published in The Express Tribune, February 9th, 2016.
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