Before the privatization of PIA, the government took a big decision

Prior to the privatization of Pakistan International Airlines, the government has mobilized for foreign debt repayments.

According to details, a national asset like PIA which should have earned the country is itself badly indebted, but now the issue of privatization of the national airline has come to the fore and the government’s new strategy for the debts of 88 million dollars. The practice has been prepared.

At present, there is an issue above privatization because before privatization, a condition has been imposed that whatever debt the institution has should be cleared, and these debts are also quite high.

Senior Reporter Salahuddin said while speaking in ARY’s program that PIA has never suffered a loss in operating profit, according to the announcement of the board of directors, the organization has earned an operating profit of more than 11 billion in the last year 2023. What did

Worryingly, the national airline is currently heavily indebted and owes more than 100 million.

Journalist Salahuddin said that the most important reasons for incurring so much debt include mismanagement, while the officers brought from outside were hired on heavy compensation to evict the PI from Manjdhar.

He said that there was a lot of political interference in this institution, apart from this many reasons led to the destruction of PIA.

He said that PIA has taken a loan of 270 billion rupees on government guarantee. These loans are taken from commercial banks, before privatization the government will have to repay all the loans because without it privatization will not be possible.

Senior journalist Shoaib Nizami said that the caretaker government has already cleared many hurdles on the privatization of PIA, there is a very good platform for the newly elected government which they have to complete.

Bidding is likely to be called for in the first week of April, before the government has decided that two companies will be created for PIA.

He said that debts of around Rs 700 billion will be parked within the hoardings company and PIA will be freed from the debts and losses of its core function of aviation and thereafter it will be privatised.

It should be noted that at that time the famous airline of the world Emirates is also PIA, while other airlines were also supported by the national airline. Today, however, mismanagement has destroyed PI.

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