President to bail out PIA

Discuss issues and news related to PIA, Pakistani airlines and Pakistan's civil & military aviation.
CoyBoy
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President to bail out PIA

Post by CoyBoy »

Dawn has reported thgat the Musharraff is taking lead to help PIA out of crisis or it will fold up.

Can any one find teh link I'm too lazy to look it up.
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FULLTHRUST
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Post by FULLTHRUST »

President intervenes to rescue PIA, PAC told

By Our Staff Reporter

ISLAMABAD, Dec 6: Defence Secretary Tariq Waseem Ghazi told the Public Accounts Committee (PAC) here on Wednesday that President Gen Pervez Musharraf had stepped in to get PIA out of the financial crisis.

"Now the government will do anything it can to save the national flag carrier from an untimely crash that seems imminent at the moment," Mr Ghazi said.

He admitted that PIA's financial woes were getting deeper and deeper with every passing day but some untiring efforts at the highest level were under way to avert any crisis, he added.

PIAC Chairman Tariq Kirmani rejected as baseless a media report, which suggested that the corporation's accumulative losses would surge to Rs500 million-Rs1.5 billion per month if corrective measures were not taken from here onward.

The meeting presided over by MNA Malik Allah Yar Khan, the PAC expressed its grave concern over alleged irregularities and directed the PIA chairman take steps to control what it called "unbridled" corruption in the corporation.

The PAC meeting was held to review the Special Audit Report for the fiscal 2000-01 on the performance of the Defence Ministry and its affiliated departments.

The defence secretary informed the meeting that different measures were being taken to pull PIA out of the crisis. However, he added, that problems in the corporation were of serious nature.

Mr Ghazi said Gen Musharraf was being briefed on the affairs of the PIA regularly. Similarly, Prime Minister Shaukat Aziz and finance and defence ministries were also being kept informed about the situation.

During the meeting, Mr Kirmani also exchanged harsh words with a member of the committee when he was asked the reason for taking a very high salary package from the PIA.

PAC member Qamaruz Zaman Kaira claimed that according to his information, Mr Kirmani was drawing more than a million rupees as salary and other privileges per month and the chairman had already drawn his salary for three years in advance.

"You just keep quite…you are before the PAC where one is required to speak through the principal accounts officer," Mr Kaira snubbed Mr Kirmani when he moved to defend himself.

Meanwhile, the defence secretary intervened and promised that he would present before the committee all documentary proofs of salary and benefits Mr Kirmani was getting from PIA.

The committee also expressed concern over the inability of the Civil Aviation Authority (CAA) to complete an inquiry report into the Multan Fokker crash on time.

The committee directed the Survey of Pakistan high-ups to recover the Rs4 million which vanished from a safe meant for the Employees’ House Building Fund. It directed that disciplinary action be taken against officials responsible.

Malik Allah Yar Khan directed Deputy Surveyor-General Syed Haider Mehdi Jamal to also take action against officials who had not taken action in the case despite the fact that the case was reported.

Source: DAWN
PK777
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Post by PK777 »

Tell us something new... I think its true for most flag carriers if they are in trouble the Govt is obv. gonna bail them out.
FMC
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Post by FMC »

PK777, which bail are you referring to??