PIA employees protest on fifth day in Faisalabad, postponement to cost another Rs 21 billion
The loss will increase the burden on people's pockets
FAISALABAD (Dunya News) – Pakistan International Airlines (PIA) employees have continued protest against proposed privatization on the fifth day, Dunya News reported Saturday.
The employees are protesting against the proposal however, the government has postponed privatization of the national airlines for six months.
Know more: Govt bows down to PIA employees, postpones privatisation for 6 months
The postponement will cause a loss worth Rs 21 billion. PIA’s deficit rounded at Rs 19 billion from January 2015 to September 2015. However, by end of the last year, the loss hit Rs 23 billion. The national airlines purchased oil worth Rs 21 billion in January-September 2015 period.
Faisalabad protesters play dead hinting PIA’s collapse
In the same period of 2014, the airlines saved around Rs 16 billion. The total deficit of the national airlines from 2011 to September 2015 has reached Rs 155 billion. PIA has withdrawn loans worth more than Rs 100 billion to meet its expenditures and pay the employees.
Adding the loans, PIA now is running in loss as humongous as Rs 350 billion.
As if it was not enough, the postponement of privatization will cost another Rs 21 billion. As per calculations, the Pakistan International Airlines will bear Rs 11 core loss everyday for the coming six months.
The loss will increase the burden on people’s pockets.
Know also: Pakistan assures IMF of privatizing PIA, PSM and State Life in 2016
The government has taken decision to postpone the proposed privatization owing to four-day long protests in different cities by the company’s employees.
Faisalabad: PIA office remains closed on fifth day
The employees shut offices and locked gates as demonstrations against the privatization. The protesters continued to stage sit-in outside the PIA headquarters. On the fourth day, the employees rallied from the head office to Jinnah International Airport.
Know more: Employees protest against privatization of PIA enters fourth day
On the other hand, Senator Mushahidullah Khan announced government’s decision in the matter on Friday while addressing a press conference in the federal capital.
Khan assured that the decision has been taken with consensus of all the stakeholders and that the salaries, privileges and perks of the employees would not be affected.
