Abbasi expresses dismay over PIA and PSM

ISLAMABAD: Prime minister (PM) Shahid Khaqan Abbasi, on Friday, chaired a meeting of cabinet committee on privatisation (CCoP), the meeting discussed issues related to Pakistan international airlines (PIA) and Pakistan steel mills (PSM), Abbasi observed that past mismanagement and neglect of the two important organisations had not only resulted in creation of huge financial liability, on annual basis, for the government but also caused great difficulties for the employees.

According to an official statement, privatisation minister Daniyal Aziz gave a detailed presentation on various issues, including the financial challenges, faced by the two organisations and possible way forward for addressing those issues on permanent basis.

After a detailed presentation on PIA and the discussion that followed, the CCoP gave go-head to the proposal for initiating “restructuring process in PIA”.

It was decided during the meeting to separate core and non-core functions of the organisation.

The meeting discussed in detail various administrative, financial and employees related issues of PSM. A proposal for PSM entering into a ‘concession’ agreement with investors, on revenue sharing basis, also came under discussion.

Abbasi directed that all options be explored and a comprehensive plan be worked out for addressing employees related issues.