PM's adviser insists govt to net Rs55b from sale
PIA photo file
The government offered substantial tax concessions to facilitate the sale of Pakistan International Airlines (PIA), which incurred losses of Rs500 billion since 2015, said Privatisation Adviser Muhammad Ali on Wednesday.
Speaking at a joint news conference with Information Minister Attaullah Tarar, Muhammad Ali displayed a presentation that implicitly held the three major political parties responsible for PIA's decline over the past 15 years. According to the briefing, PIA was profitable between 1989 and 2009, but started incurring losses from 2008 onwards.
The presentation highlighted that the airline's decline began during the Pakistan People's Party's (PPP) tenure from 2008 to 2013, and worsened during the Pakistan Muslim League-Nawaz's (PML-N) last five-year term.
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