PIA huge losses details of the last 3 years of PML-N government
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ISLAMABAD: Pakistan International Airlines (PIA), the flagship carrier of Pakistan is deteriorating with every passing day and the huge losses incurred in the last few years have become unbearable.
ISLAMABAD: PIA losses stands at Rs. 19 billions despite 42% reduction in international oil prices
Pakistan International Airlines (PIA) posted a Rs2 billion profit way back in 2004.
PIA has seen its losses surge to Rs103 billion during the tenure of the current Pakistan Muslim League-Nawaz (PML-N) regime.
PAC Chairman Syed Khurshid Shah chaired the meeting on Tuesday convened to discuss the performance of PIA and the Civil Aviation Authority (CAA). PIA’s CFO Nayyar Hayat along with other representatives briefed the members of the committee.
The year-on-year loss figures given to the PAC stated that:
2005, the losses were Rs4.4 billion that kept increasing over the years.
PIA in loss despite being converted into Company
2013 – the first year of the PML-N government – the losses surged to Rs44.71 billion;
2014: PIA loss was Rs29.31 billion
2015, it incurred a loss of Rs29.95 billion.
PIA has lost over Rs. 103 billion in the tenure of PML-N government.
