Finance ministry tells PIA to adopt austerity measures

Sheikh briefed on the strategic restructuring plan of PIA.

ISLAMABAD: The Federal Minister for Finance and Economic Affairs, Dr Abdul Hafeez Shaikh advised the management of the national flag carrier Pakistan International Airlines Corporation (PIA) to strengthen the management structure in line with the recommendations of the Cabinet Committee on Restructuring of the Public Sector Enterprises constituted by the Prime Minister.

The minister said this while presiding over a meeting to review the performance of the Pakistan International Airlines and Civil Aviation Authority at the Finance Ministry Islamabad on Friday.

Sheikh also emphasised to accord greater autonomy to the Board of Directors, hiring of professional management from the open market, and implementing an aggressive action plan for austerity in the airlines.

The Minister was given a detailed presentation on the Strategic Restructuring Plan of the PIA which laid stressed on operational, financial and human resources restructuring.

The presentation was given by the Managing Director, PIA, and the meeting among others was attended by the Minister for Defence Chaudhry Ahmed Mukhtar, Minister for Petroleum and Natural Resources Dr Asim Hussain, Secretaries, Finance and, Defence and other concerned high officials of the Government of Pakistan.