Government approves Rs 457 billion PIA restructuring plan
Islamabad: Without a business plan, the federal government approved a restructuring plan for Pakistan International Airlines worth Rs 457 billion to make the national flag carrier financially stable.
Read More: Blue World City Announced Shoaib Akhtar Enclave Payment Plan
The government has decided to let go of about 25% of the national flag carrier’s workers, or 3,500 people. It will also close routes that aren’t making money and share international routes with other airlines.
The Economic Coordination Committee sent the PIA restructuring plan to the federal cabinet for final approval. This plan is called the “last lifeline” because it will give Rs 457 billion to the airline, which is in trouble.
Read More: PM Directs Timely Execution of Gujranwala Uplift Plan
The ECC meeting was led by Hammad Azhar, who is the minister of finance. But the plan may not reach its goals because it was approved without a business plan, and that plan won’t be ready for another six months.
The ECC was also told that the IATA Consulting firm has begun working on PIA’s business plan, which should be finished by September of this year.
The ECC agreed to split the PIA into two companies: the Good PIA, which will have core assets and only Rs 137 billion in liabilities, and the Bad PIA, which will take on Rs 457 billion in liabilities and keep its non-core assets.
Please check out the Al Sadat Marketing website to find out what’s going on.
You can also invest in other famous and most in demand housing societies, such as , Blue World City, Rudn Enclave, 7 Wonders City Peshawar, Taj Residencia, Kingdom Valley, New Metro City Gujar Khan, Forest Town Rawalpindi, University Town Rawalpindi, ICHS Town, Park View City Islamabad, Multi Gardens B17 Islamabad and Nova City Islamabad.
Al Sadat Marketing please contact 0331 1110005 or visit https://alsadatmarketing.com/
Few more real estate housing schemes which are trending now a days in Islamabad by including: Faisal Town Phase 2, Prism Town Gujar Khan, New City Paradise, Eighteen Islamabad, 7 Wonders City Islamabad, Capital Smart City, Silver City Islamabad, The Life Residencia, Faisal Town Islamabad, Islamabad Golf City, Islamabad Model Town and Marble Arch Enclave.
Al Sadat Marketing is an emerging Real Estate Agency headquartered in Islamabad, Pakistan. With over 10+ Years of experience, Al Sadat Marketing is providing its services and dealing all trending housing societies projects in different cities of Pakistan. Islamabad Projects, Rawalpindi Projects, Gujar Khan Projects, Burhan Projects, and Peshawar Projects etc.
Book Your Plot Now: +92 331 111 0005
