Govt offers voluntary retirement to PIA employees

The government has offered a voluntary dismissal scheme to Pakistan International Airlines employees.

PIA’s restructuring plan has been finalized and a strategic business plan will be approved by the Cabinet’s Economic Coordination Committee (ECC) within this month. But the Human Resource Rationalization Plan will also be brought before the Economic Co-ordination Committee for approval this month before the dismissal scheme is proposed.

Briefing the ECC, the Aviation Division referred to a meeting held on December 30, 2017, where it was decided that the government of Pakistan will pay the mark-up on the debt of PIACL directly to the lenders for five years.

In this regard, the Finance Division had allocated Rs. 24.5 billion in the budget of the financial year 2019-20 for payment of mark-up on GoP guaranteed loans.

Government Intends to set up another company by name ‘Mainline-1 Authority’ for the effective implementation of the 6.8 billion Chinese-funded Karachi-Peshawar railway track.

This is part of Dr Ishrat Hussain’s policy of simplification and institutional reform, an advisor to the Prime Minister on institutional reform, in order to reorganize and strengthen key institutions with economic discipline.

The Executive Committee of the National Economic Council (Ecnec) led by Dr Abdul Hafeez Shaikh, the prime minister’s adviser on finance and revenue, is expected to approve on Wednesday (today) the upgradation and improvement of 1,733km Mainline-1 (ML-1). On completion, the project is expected to double the speed to 160km and 140km per hour of passenger and cargo trains, respectively.

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