These employees are likely to be laid off by June 2014. PHOTO: AFP/FILE
The federal government has decided to lay off ‘extra’ employees of Pakistan International Airlines (PIA) and is going to introduce a voluntary handshake plan for them, reveal documents available with Daily Express.
These employees are likely to be laid off by June 2014 and for this purpose, the government has started preparing the handshake scheme. According to the documents, this scheme will include the terms, conditions and compensation for the employees.
For this downsizing, the government will divide the national flag-carrier into two parts. The major chunk of the dues outstanding against the organisation as well as extra employees will be placed in the PIA-2 and the handshake scheme will be introduced for these employees.
However, a certain portion of the dues and extra employees will remain under the PIA. These employees will be streamlined and for this purpose, the government will provide funds.
According to documents, 26% shares and the administrative control of the national flag-carrier are planned to be sold by the end of December 2014 and financial advisers will be hired for this purpose by end March.
The documents said that on June 30, 2013, the overall deficit of PIA was Rs170 billion. The national flag-carrier operates from 40 foreign and 32 domestic stations and has 11 administrative wings, employing more than 18,000 employees. It also has more than 3,000 contractual and daily wages workers.
Published in The Express Tribune, January 18th, 2014.
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Excellent decision
Wow, this is another tactic to make money, PIA administration will give abnormally high compensation to their beloved ones, and put national flag carreir in further financial crisis.