The PIA riddle

Pakistan’s national carrier is a white elephant. Its pathetic financial health is no secret. It has been a public sector entity in loss for decades. The latest official testimony says that PIA had sustained a total loss of Rs80 billion in 2022, as its internal framework of loans and interest payments are eating into its income. The magnitude of debt it faces on this day is to the tune of Rs742 billion, accumulated over years primarily owing to malpractices, corruption and ad hocism. Moreover, the burden of perks and privileges, and the institutional chaos in running an aviation body, has pushed it to the brink.

Not only has it lost vital revenue generation sectors over the years, owing to a non-professional approach, but also the confidence of the masses in what they once prided as an airline for ‘great people to fly with’. The reappointed CEO has been handful in dealing with this mess. Though a number of reforms had come the PIA’s way, much more is needed to resurrect it on modern, viable and professional lines. It is a pity that an airline which thought many regional compatriots to fly is down on its knees. Its aircraft are grounded, infrastructure untenable to international standards and service on the decline.

These are not mere allegations but a fact of life at the carrier. It is in need of introspection and a way out to fly high in full colours. It has to come out of the interference of ministries and autonomous bodies, and the task of decision-making should be solely entrusted with professional managers as is the case with other reputed airlines. The data at a glance forecasts that the airline’s annual loss will hit Rs259 billion in 2030, if it is not restructured instantly. PIA’s overhauling is a riddle at the IMF têteà-tête too, and like other sick units it is a gangrene in our economic saddle.

PIA needs an independent hand to make it manageable and operational on a serene equation of profit-making. No point in passing on the cost tag to the customers with a messy service in store