Five-year plan to be prepared in next three months to turn PIA fortunes: CEO PIA

News Image

By MG News | January 15, 2019 at 05:49 PM GMT+05:00

0:00

January 15, 2019: The management of Pakistan International Airlines (PIA) will develop a comprehensive five-year strategic business plan to turn the national flag carrier into a profitable entity and revive its past glory, Chief Executive Officer (CEO) PIA, Air Marshal Arshad Mehmood Malik said on Tuesday.

 “Due to mismanagement and corruption PIA had become a liability. Prime Minister Imran Khan tasked us to revive the PIA as a profitable enterprise."

 “Since taking the responsibility in October, last year we have taken some short-term measures to ensure its smooth functioning and now we are going to give a five-year long term plan in a three-month period,” he told a news conference here at the Press Information Department (PID).

Minister for Aviation Muhammad Mian Soomro, Special Assistant to PM on Media Affairs Iftikhar Durrani and Secretary Aviation Division Shahrukh Nusrat were also present at the presser.

Arshad said that the five-year plan would undertake measures for cost saving, revenue generation, improvement and expansion of flight operations. “Financial restructuring through government support will also be part of the plan,” he said.

He said that revival of the airlines’ past glory was a daunting task but he had full backing of the Minister for Aviation to turns its fortunes. He said after assuming the charge he found that PIA was a white elephant turned black hole due to several issues such as meddling of PIA Union in administrative affairs, corruption, nonprofessional attitude and overstaffing. “But I also found that PIA pilots, engineers and technicians were the best in the industry and they needed only ownership to harmonize their energies,” he added.

 (APP)

Related News

Name Price/Vol %Chg/NChg
KSE100 130,423.71
198.89M
0.06%
79.68
ALLSHR 81,102.69
648.10M
0.10%
78.70
KSE30 39,899.82
78.51M
-0.02%
-8.44
KMI30 190,064.56
97.90M
0.28%
529.56
KMIALLSHR 54,883.78
339.99M
0.18%
100.13
BKTi 34,690.81
19.35M
-0.72%
-249.92
OGTi 28,513.78
13.20M
0.77%
217.73
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 110,110.00 110,195.00
109,200.00
-175.00
-0.16%
BRENT CRUDE 68.38 69.00
68.32
-0.73
-1.06%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 109.20 0.00
0.00
0.20
0.18%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.71 67.50
66.65
-0.74
-1.10%
SUGAR #11 WORLD 15.52 15.62
15.44
-0.06
-0.39%

Chart of the Day


Latest News
July 03, 2025 at 01:26 PM GMT+05:00

Banks raise ATM withdrawal fee to Rs35


July 03, 2025 at 12:57 PM GMT+05:00

SBP mandates biometrics for wallet cash


July 03, 2025 at 12:03 PM GMT+05:00

Saudi Riyal available at PKR 76.4 in open market



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg