ISLAMABAD: Minister for Information and Broadcasting Mr. Fawad Chaudhry announced on Thursday, 11 October the federal government has appointed a serving Vice Chief of the Air Staff Air Marshal Arshad Mahmood Malik as the Chairman of Pakistan International Airlines (PIA).
The information minister made the announcement as he addressed the media after Prime Minister Imran Khan chaired a meeting of the federal cabinet. “PIA is in a debt of Rs406 billion,” Chaudhry further said while adding that the national carrier was facing debt of Rs2 billion every month.
“Air Vice Marshal Arshad Khan, who is a serving air vice marshal, has been appointed the new PIA chairman. He has been chosen because he is a considered a big figure in the air force and is a thorough professional,” the information minister said while addressing a press conference.
“The new chairman of the national carrier has been directed to immediately fix the institution’s economic condition,” he added. Further, the information minister said, “Aoun Abbas has been appointed as Chairman of Baitul Maal.” “Pakistan’s condition is like that of a house looted by thieves. “Those responsible for the country’s current state should be taken to court,” he added.
Regarding the appointment of a new CEO for the airline, Chaudhry explained that the appointment has to undergo a process, which has been initiated. He said advertisements will be issued soon announcing the vacancy.
“We can no longer afford to sit by and watch PIA incurs such massive losses. A loss of Rs2 billion each month translates to a daily loss of Rs70-80 million each day,” he said expressing the gravity of the situation.
He also said that a restructuring plan for the company had been submitted to the finance ministry, which will be reviewed by Finance Minister Asad Umer after he returns from Indonesia. He will then present the plan to the cabinet for its approval.