ISLAMABAD: Prime Minister Shahid Khaqan Abbasi on Wednesday, November 1, directed the formation of a committee to conduct a detailed study and “fine-tune” the proposed strategy to make the Pakistan International Airlines (PIA) a profitable organization.
According to a press release from the Prime Minister’s Office, a detailed briefing was given to the federal cabinet on future business plans and strategy to turn PIA around. The PM directed the formation of a committee to fine-tune the strategy.
The cabinet meeting chaired by Prime Minister Shahid Khaqan Abbasi held a detailed discussion on how the national flag carrier can stand on its own feet.
As was tasked earlier by the PM to the senior management of the PIAC to prepare a comprehensive turnaround plan for the crippling national flag carrier, The PIAC official came up in the meeting with a 40-page plan that took three months for completion.
The Prime Minister and his cabinet rejected the plan by raising many objections on it.
“I do not want 40-page plan, give a brief plan on four to five pages as to how we can rescue the national flag carrier,” the PM said.
The Prime Minister refused to grant any Bailout or financial package to the PIAC in near future unless its management comes up with a clear and effective plan.
“I will not give even a single penny if you people do not tell me how much amount to be required on the first, second, third and fourth year and what progress is expected year wise,” he added.
Later, the meeting decided to form a special committee to fine-tune the turnaround plan prepared by the PIAC management.