Do you have any idea how management of another State Enterprise, a national flag carrier has mis-managed Pakistan International Airlines Corporation. With its aircrafts packed to capacity and with its misplaced economy in the areas of passenger service, it is still running into losses to the tune of billions. Like Pakistan Steel, it is on the lifeline provided by the Government in the form of bail-out package every now and then. These packages alone are going to sink the national ship of economy. For how long will the poor masses pay for inefficiencies and corruption in the high places in Public Sector entities?
And mind you, PIA has all the elements of a vibrant organization. It has 40 aircrafts flying to 59 destinations. Its slogan proudly says, come fly with us. But it seems that the only thing flying these days is cash out of PIA coffers. It is the same organization which was in dire straits in the 90s but recovered in 2000 onwards. It was earning profit till 2004 (Rs. 2.31 billion) where after it started losing altitude and eventually was nose diving. At the end of 2008, it had a loss of Rs. 36 billion. Major reason for its downfall is its number of employees per aircraft which is highest in the world. Since it has a very attractive compensation package, every political party tried to stuff it with its workers or the ministers and MPs sold PIA jobs during their regime. Steel Mills, Railways and PIA are going to destroy Pakistan if their management is not corrected and they continue to breathe under oxygen tent of bailout packages.