PIA Holding Company approves Rs 268bn debt restructuring
Islamabad: The board of directors of Pakistan International Airline Holding Company on Wednesday approved the restructuring of the airline’s 268 billion rupees commercial debt, incorporating it into public debt. The term sheet was finalized by the finance ministry with the commercial banks. The government’s decision to merge the airline’s debt with the public debt means taxpayers will bear the cost of PIA’s inefficiency and mismanagement. In its hastily convened inaugural meeting, the newly constituted board of the PIA holding company swiftly approved the term sheet for the 268 billion rupee debt restructuring. Former special assistant to the prime minister, Tariq
