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Wednesday, February 1, 2023

Experts to arrive to devise a PIA rescue plan

A team of expert consultants to arrive in Pakistan to devise an extensive plan to revive the national carrier.

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The delegation touches down today on the invitation of the Special Adviser to Prime Minister for Institutional Reforms and Austerity Dr. Ishrat Hussain. The purpose is to make a 5-year corporate plan for the national carrier Pakistan International Airlines (PIA).

This team of four members will stay for a duration of 12 days in Pakistan coming up with an extensive plan. During this time the team will conduct a business model review of the airlines and will meet senior government officials like Dr. Hussain. A meeting with PIA’s CEO Arshad Malik has also been scheduled.

Airlines spokesperson confirmed their arrival date for Monday, 22nd February.

Read More: PIA employees turn to CJP as non-payment of dues takes two former employees’ lives

The said experts have versatile consultancy experience and will plan so that the national carrier becomes a self-sustaining and profitable company. Since Dr. Hussain is the one leading the reforms, this company is working with him on this.

Practical implementation of the plan may lead to the airline actually contributing positively to the country’s economy.

Reviewing different suggestions and different roadmaps, the plan will include all proposed strategies for the financial and organizational restructuring of the company. It will analyze the financial position of the company, performance, and cash flows using different approaches. It will focus on recommendations to revise the capital structure and provide a viable working plan for raising future funding requirements.

The review will also highlight the company’s competitive position in the market, focus on the marketing strategies and sales with respect to routes, destinations, and regions.

From the PIA’s side, full cooperation will be done by providing the team with the financial information required for the development of the corporate business plan.

Previously, Civil Aviation Authority (CAA) has granted permission to experts from different countries like the UK, South Africa, and Portugal at the request of the PIA administration.

Read More: PIA: Plane hits a baggage tractor at the Islamabad airport this time

The expert delegation will be traveling via Turkish Airlines and will be subject to the routine procedures of COVID-19 testing and quarantine and other mandatory actions as required by the health departments.

Pakistan has restricted the entry of passengers from countries in category C in the wake of the ongoing coronavirus pandemic.