ISLAMABAD: Finance Minister Mohammad Ishaq Dar on Sunday said the government had no plan to privatize Pakistan International Airline (PIA) but only wanted to seek a strategic partner for the national flag career.
“Efforts would be made to invite credible and reputed international strategic partners to the extent of 26% in only the core business of PIA,” he said in a statement issued in Islamabad.
The finance minister categorically sated there would be no layoffs in the national flag career.
Ishaq Dar said as a result of government’s efforts, there had been a visible improvement in the overall working of the airline.
He pointed out that number of operational aircraft available with PIA had increased from 18 to 38 and this figure would rise to 40 by the end of this month.
“Similarly, the average aircraft age has been reduced from 14 years to 9 years and the government is aiming to bring it further down to 6 years,” he said.
The minister said the ordinance issued by government recently aimed at freeing the PIA management from government control and enabling it to take its decisions independently.