An amazing yet astonishing offer is circulating relating to PIA and Steel Mills. The Prime Minister adviser on Financial Affairs Miftah Ismail has offered free Steel Mills to the person or investor who is ready to buy the drowning Pakistan International Airlines.
As per the Minister, these two leading government institutions are destroying the economy of Pakistan.
In a seminar in Islamabad, he said, “I don’t know if there will be a buyer after the next elections but I hope there is one and we should try and sell this PIA.”
He added, “I would do an offer whoever buys the PIA, I will give them Pakistan Steel for free. Seriously I will take all the liabilities and I will give Pakistan Steel for free. Why should we own Pakistan Steel? They make only one million tons of steel and I think in Pakistan we import 20 to 30 million tons of steel. Why should we own Pakistan Steel Mills?. Every month you guy pay Rs400 million for salary to workers who don’t come to work.”
Further on in a current affair show, he said that government wants to privatize PIA as it is just going through the yearly loss of Rs40 billion.
Miftah Ismail said, “We cannot restructure the PIA. If we had the ability to do it, we would not have come to this point. The PIA has become a burden on the nation kitty. The total loss incurred by the national airlines this year alone stands at Rs40 billion. We can spend this money on hospitals and educational institutions.”
The government has given approval of the splitting of the Pakistan International Airlines (PIA)’s non-core business and assets. Thus, Pakistan International Airlines (PIA) privatization is being discussed with three available options. Now, this offer further strengthens this notion that PIA is just a dying airline, desperately in want of a shoulder.