PIA's privatization to commence from July 22

ISLAMABAD: The Government of Pakistan has set the dates for the privatization of the Pakistan International Airlines (PIA), while not just the assets of the national airlines will be handed over to the private sector, but thousands of workers will also be relieved from jobs, Our Sources reports.

The Government of Pakistan has decided to privatize the national airliner, PIA. The Minister for Privatization, Muhammad Zubair said on Thursday that the Government will not refrain from making tough economic decisions, in the national interest of the country.

In an interview to a foreign news agency, he said that the privatization of PIA will begin from July 22, when the economic advisers will be appointed for the auction.

Zubair told that the process will be completed by the month of June, next year. He said that 50 percent of the employees in PIA are surplus, who will be sorted out before privatizing the institution.

The Minister for Privatization said currently the PIA is having 16,600 workers, which counts up to some 600 workers for a single aircraft, while a total of 200 workers is required worldwide for a single plane.

Muhammad Zubair further elaborated that the organization will be restructured prior to its privatization and adequate planning is being made for those who will be relieved from their jobs.

End.