PIA stresses 47.03 billion in loss on national exchequer – Research Snipers

PIA stresses 47.03 billion in loss on national exchequer

PIA

According to the auditor general’s report (2016-17), PIA has inflicted loss of Rs. 47.3 billion on the national treasury. The auditor general’s report indicated that Rs. 37.15 billion was spent frivolously on unnecessary repairing by various companies officials, another Rs. 4.7 billion frittered away on non-effective grants by the company.

Moreover, Rs. 2.57 billion was spent of catering agreements and Rs. 960 million was considered as a bad debt due to non-payments from government departments. Similarly, Rs. 40.6 million were lost over irregular appointments and Rs. 120.88 million were lost over unusual agreements.

PIA flying to Najaf Iraq 3 times a week now

PIA Pakistan has a lot of potential in generating strong income for the country, national flag airline has previously generated huge profits for the country, PIA also trained one of the best airlines in the world Emirates airlines due to its expertise in Airline industry. Now Emirates is known all over the world and has grown to a large International airline and PIA is just going backward all due to mismanagement and corruption in the government departments.

PIA top of the list in International airlines but from the bottom

Since, 2005 the company is bearing loss over loss every year, bad governance, incompetence, favoritism, nepotism, and corruption has destroyed the image of the company not only in Pakistan but also in the eyes of the world.