PIA pilots' pay and perks amount to staggering Rs430 million
If the government fails to privatise PIA within three years, commercial banks will have the right to reopen the deal and demand an interest rate equal to prevailing government borrowing rates. PHOTO: FILE
Pakistan International Airlines (PIA) pilots receive salaries and allowances totalling Rs430 million, it was revealed during a National Assembly (NA) session on Friday.
The session disclosed that the national airline employs 313 pilots, with 262 on permanent contracts and 51 hired on a contractual basis.
It was revealed that permanent pilots earn a monthly salary of Rs103,000, supplemented by allowances and bonuses amounting to Rs1.2 million. Contract pilots receive a higher monthly salary of Rs114,000, along with Rs1.4 million in allowances and bonuses.
In addition to their financial remuneration, PIA pilots are entitled to 45 concessional flight tickets and interline tickets annually.
Read more: PIA bidder proposes reinvestment of proceeds
Yesterday, in an attempt to expand the footprint into new sectors of the economy including aviation and corporate farming, renowned businessman Arif Habib proposed that the government should reinvest the proceeds from the privatisation of PIA back into the national carrier, as the state will continue to hold a 49% stake.
Arif Habib Corporation is part of one of the six consortiums which have been pre-qualified for offering bids for the airline sometime in August 2024.
Addressing the media about his company’s plans to further diversify the Arif Habib Group’s business portfolio on Thursday, Group Chairman Habib said PIA was carrying a negative equity of Rs50-55 billion and liabilities of Rs200 billion.