WTP Report
ISLAMABAD :Pakistan International Airline(PIA) is being made a sign of a lesson,said a ex-Managing Director of PIA. ‘PIA could not be privatized but the government has paid 20 million dollars to the consultants for privatization’.
According to current dollar’s rate, this amounts is to around Rs 550 crore,Besides staff expenditures of Privatization Commission including accommodation,expenses of committee officials, TADA, hotel expenses in Islamabad for bidding, all these are separate. Over two crore rupees spent on media management.
The sole bidder of Blue World Housing Society has made a mockery of the national airline by giving a bid of 10 billion rupees.
The government set a base price of rupees 85 billion 3 crores, 60% of the shares were to be sold, only one bidder came who bid 10 billion, and meanwhile one of their key officials asks the secretary of privatization that if we succeed in the purchase, at what price? I will adjust the plots of BWC? The thing to remember is the PIA disaster .The main culprits are the same two groups who have been ruling for 50 years.PML-N and PPP-MQM made indiscriminate recruitments in PIA to prepare their voters and the money they earned in return is a different story.
At present, PIA has around 7 thousand employees, while the total number of planes will not even be 40, so guess how much a plane will earn and how many employees will have to feed their stomachs.
PIA has a financial deficit of more than 200 billion rupees, loans will be added to it. Stories of fake licenses and jobs are among the ones that were suppressed. At present, the head of the Privatization Commission is Nawaz Sharif’s Deputy Prime Minister and Foreign Minister Ishaq Dar, who was not in the country at the time of the privatization process.
When PIA was to be privatized in 2015, it was expected to fetch one billion 700 million dollars. About billion rupees. But now the base price set by the government is only 85 billion rupees. It may be recalled that PIA has been split into 2 companies, one holding all the assets and one holding all the losses, and efforts are underway to privatize the company with the assets, including the Roosevelt Hotel in New York. That alone is probably worth close to or more than $500 million, already leased. It has been given and the loan has been taken separately. Apart from this, the assets around the world and in Pakistan are different, the ships are different. But who came to shop!! Housing Society Blue World! It is forbidden to talk about who is behind it.
This monster like PML-N,PPP,PTI,MQM has destroyed all the government institutions, including PIA, Railways, Steel Mill, Pakistan Post, all the institutions have become white elephants. There are billions of dollars of debt to run the country and institutions.
