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Privatisation hits snag as PIA workers walk out in protest
 [DAWN] Employees of the ailing national airline on Tuesday walked out in protest over its planned privatisation, disrupting flights and undermining a central plank of reforms promised by Prime Minister Nawaz Sharif... served two non-consecutive terms as prime minister, heads the Pakistain Moslem League (Nawaz). Noted for his spectacular corruption, the 1998 Pak nuclear test, border war with India, and for being tossed by General Musharraf... in return for an International Monetary Fund (IMF) bailout. In September 2013, the IMF agreed to lend $6.7 billion over three years in order to save the country from possible default. In return, the government of Pakistain agreed to broaden its tax base, cut electricity subsidies and privatise failing state companies that lose taxpayers around $5 billion a year. Soliciting buyer interest in Pakistain International Airlines (PIA), whose accumulated losses stand at $2.29 billion, by December 31, is one of the major steps Islamabad needs to take for the programme to continue. Posted by: Fred 2015-12-16 |
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