The Board of Directors of Pakistan International Airlines (PIA) has allowed cadre-wise salary increments for its employees.
PIA spokesperson said this is the first salary increase in four years and is aimed at helping employees absorb the impact of inflation.
The spokesperson noted that the salary adjustment could help retain experienced staff as the airline’s workforce has dropped below 7,000 and continues to decline.
Meanwhile, Pakistan remains committed to privatizing the national flag carrier. The federal government is ready to offload a 51-100 percent stake as part of its economic reform agenda under the $7 billion International Monetary Fund (IMF) program.
Last November, the government rejected a sole bid from Blue World Consortium which offered Rs. 10 billion for a 60 percent stake—far below the Privatization Commission’s Rs. 85 billion minimum price.
The government is now preparing for a second round of the sell-off process. The Privatization Commission has declared that it is ready for the next auction with several returning bidders and new interested parties expected to participate.
