New CEO of PIA

New CEO of PIA – The coalition government blasted its departure with a flurry of appointments in virtually every area of activity under its control and supervision. A new CEO was accordingly appointed for Pakistan International Airlines (PIA) that is under active consideration for getting privatised. Former Air Vice Marshal Muhammad Amir Hayat was formally appointed as PIA’s CEO for a period of one year. He had been acting as CEO PIA since April 2022 but he was just given one year whereas it was expected that he would be appointed for three years. This step may signify that the official authorities are planning privatising the loss-making national airlines as it would be in line with the financial arrangements worked out with the International Monetary Fund (IMF). Pakistan agreed to fiscal discipline plans as part of a $3 billion financial agreement with the IMF that includes privatisation of loss-making government-owned entities. As a precursor PIA-owned Roosevelt Hotel is processing financial transaction that is also reported to be suffering loss. In the meanwhile, PIA is expecting to resume flights to the United Kingdom that have remained suspended since 2020 due to pilot licensing scandal, curiously broken by the then federal aviation minister, that badly affected its reputation. The Weekender