New business plan proposed for PIA

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ISLAMABAD: A new business plan has been proposed to Pakistan International Airlines (PIA) by an international aviation firm IATA Consultancy, media reports revealed Wednesday. According to media reports, the plan, if adopted y PIA, would see it generate 3.4 percent profits in 2026. A meeting in this regard was held with Finance minister Shaukat Tarin, Aviation minister Ghulam Sarwar Khan, secretaries of aviation, finance and the secretary of EAD in attendance amongst other officials. By 2026, PIA assets would increase from $1.196 billion to $2.183 billion as a result of the plan’s implementation. In the fiscal year 2020, PIA recorded a loss of Rs34.6 billion. According to experts, losses in FY2021 to have escalated dramatically due to the pandemic and, more importantly, the chain of events that followed the fake pilot licences controversy, which rendered Pakistani pilots unfit to fly to the United States and Europe. News Desk