The Board of Directors of Pakistan International Airlines (PIA) approved on Friday an increase in salaries for its employees.
According to a statement by the PIA spokesman, the approval came during a recent meeting of the Board of Directors, which approved the increase in wages to tackle the increasing financial pressure facing staff, Express News said.
The last increase in wages for PIA employees was four years ago, after which increasing inflation rates significantly affected workers’ financial well -being.
The spokesman also noted that the total number of PIA employees has now fallen below 7,000, with the number continuing to decline.
According to a statement by the PIA spokesman, the decision aims to tackle the worsening living conditions of workers who have not seen wages in four years.
Along with this internal adjustment, PIA is also facing its terrible financial situation. In the context of Pakistan’s wider efforts to raise funds and implement state -owned reforms, the government is trying to sell a significant share of the airline
The International Monetary Fund (IMF) has been ordered this privatization as part of a $ 7 billion loan program to stabilize the country’s economy.
Last year in November, the only 60% share of PIA – submitted by the Blue World consortium – was rejected.
The consortium offered 10 billion Rs, well below the minimum valuation of the Private Committee’s 85 billion Rs. As a result, the government has decided to resume the sale process.
The Privatization Committee (PC) recently announced that it is “fully prepared” for a second attempt to sell PIA, with several new and returning candidates who are interested in participation.
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