Today, Prime Minister Shehbaz Sharif chaired a meeting on PIA privatization. He directed to officials to submit implementable finalized PIA privatization plan/schedule/timeline within 2 days. Laziness and carelessness will not be tolerated and transparency in the process must be ensured, advised the prime minister.
Amaad Lone wrote: Fri Mar 08, 2024 8:39 am
While PIA losses might be 825 billion over 20 years, what is more important are the liabilities and loans.
What does PIA owe to local and foreign banks, plus local and foreign vendors.
PIA losses including depreciation of assets, and exchange rate losses which realistically do not effect the cash flow.
I wonder who is going to buy PIA???
No one will. Even if you have the money, who wants to burn its hands with the hostile political climate, weak exchange rate, outdated planes, and more 10K employees who do not want to move.
No one will. Even if you have the money, who wants to burn its hands with the hostile political climate, weak exchange rate, outdated planes, and more 10K employees who do not want to move.
I disagree.
Its a country with 240 million people with a huge ethnic market in the US, Canada, England, Europe and Australia not to mention the UAE and Saudi Arabia.
just because the government owned PIA was a shitty airline does not mean the new private PIA will be the same.
If anyone intelligent comes to own PIA they can cash in on millions of travelers who every year travel to Pakistan from the US, Canada, England and Europe.
Who ever will buy PIA will most likely put forward a condition that government takes up most if not all of the Airline’s debt.
A deal similar to the Air India deal,only difference would be that the investor will be foreign.
If there’s anyone with even slightest of brains in the government (which is unlikely), they would first focus on lifting the ban so PIA can start cashing on its well paying EU and UK routes. Only then can they get a remotely good deal.
If the government doesn't takeover the debts then it should forget about getting PIA privatised. On a separate note, with PPP taking over the legislative positions, i doubt they will let PIA get privatised imo.
No one will. Even if you have the money, who wants to burn its hands with the hostile political climate, weak exchange rate, outdated planes, and more 10K employees who do not want to move.
I disagree.
Its a country with 240 million people with a huge ethnic market in the US, Canada, England, Europe and Australia not to mention the UAE and Saudi Arabia.
just because the government owned PIA was a shitty airline does not mean the new private PIA will be the same.
If anyone intelligent comes to own PIA they can cash in on millions of travelers who every year travel to Pakistan from the US, Canada, England and Europe.
Last I checked, PIA is not getting a green signal on EU.
Limited aircraft with questionable technical maintenance standards and old age are already giving passengers migraines.
Reminder - a culture / mindset set over the last 75 years will take at least 10/15 more to cleanse out, provided a complete employee overhaul is done.
A country with 240 million population does have many other options to choose from.
Karachi Aviator wrote: Sun Mar 10, 2024 5:42 am
If the government doesn't takeover the debts then it should forget about getting PIA privatised. On a separate note, with PPP taking over the legislative positions, i doubt they will let PIA get privatised imo.
Agreed - as they say ' sarkari eyashi khatam ho jayegi'
Hassan777 wrote: Sun Mar 10, 2024 2:39 am
Who ever will buy PIA will most likely put forward a condition that government takes up most if not all of the Airline’s debt.
A deal similar to the Air India deal,only difference would be that the investor will be foreign.
If there’s anyone with even slightest of brains in the government (which is unlikely), they would first focus on lifting the ban so PIA can start cashing on its well paying EU and UK routes. Only then can they get a remotely good deal.
Amaad Lone wrote: Fri Mar 08, 2024 8:39 am
While PIA losses might be 825 billion over 20 years, what is more important are the liabilities and loans.
What does PIA owe to local and foreign banks, plus local and foreign vendors.
PIA losses including depreciation of assets, and exchange rate losses which realistically do not effect the cash flow.
I wonder who is going to buy PIA???
No one will. Even if you have the money, who wants to burn its hands with the hostile political climate, weak exchange rate, outdated planes, and more 10K employees who do not want to move.
