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Tag Archives: PIA

NAB orders probe into PIA air safari scandal

ISLAMABAD: The accountability watchdog has taken notice of the alleged use by a top official of the Civil Aviation Authority (CAA) of a Pakistan International Airline (PIA) plane for air safari of the Nanga Parbat. National Accountability Bureau (NAB) Chairman Javed Iqbal has ordered complaint verification against the CAA Director General Hassan Baig, who reportedly took the PIA’s plane scheduled ... Read More »

ISE-10 index witnessed bearish trend

ISLAMABAD: Islamabad Stock Exchange here on Wednesday witnessed bearish trend as the ISE-10 index was down by 24.67 points and closed at 4,004.89 points. A total of 333,000 shares were traded, which were up by 283,500 shares when compared with previous day’s trading of 49,000 shares. Out of 155 companies, share prices of 44 companies recorded increase while share prices ... Read More »

People face worst petrol shortage in Lahore

LAHORE: Transporters and common citizens suffering due to drastic slash in the supply of petrol in the provincial capital of Punjab. Out of 300 gasoline stations in Lahore, only 25 to 30 were open on Friday where long queue of vehicles was seen. A representative of petroleum dealer association told to Customs Today that the remaining pumps, which are open, ... Read More »

172 passengers, crew remain unhurt: PIA flight from London crash lands at Lahore airport

LAHORE: Pakistan International Airlines (PIA) flight PK-758 from London has crash landed at the Allama Iqbal International Airport, however, the 172 passengers and the crew on board did not sustain any injuries. The crash landing was caused by the wheels of the plane being jammed. According to airport sources, minor damage was caused to the plane due to the crash ... Read More »

$52m demand: Cash-starved PIA to get first $16.46m for induction of 15 aircraft

ISLAMABAD: The Econo­mic Coordination Commi­ttee (ECC) of the cabinet okayed the release of $16.46 million to the cash-starved Pakistan International Airlines to induct 15 aircraft on dry lease. The airline plans to spend $52m on the induction. The meeting, chaired by Finance Minister Ishaq Dar, decided that the first tranche ($16.46m) would be released to PIA this month. This amount ... Read More »

50% short sale of OGDCL 313m shares: Govt blames PTI sit-ins, fate of $4b from SOEs, PIA?

ISLAMABAD: The government on Wednesday blamed PTI chief Imran Khan and PAT leader Tahir-ul-Qadri led sit-ins for scrapping of OGDCL transaction after investors subscribed to only half of the total shares offered to international and domestic institutional investors, dealing the first blow to an ambitious privatisation agenda. Pakistan was planning to raise $ 4 billion by selling some key state-owned ... Read More »

50% short sale of OGDCL 313m shares: Govt blames PTI sit-ins, fate of $4b from SOEs, PIA?

ISLAMABAD: The government on Wednesday blamed PTI chief Imran Khan and PAT leader Tahir-ul-Qadri led sit-ins for scrapping of OGDCL transaction after investors subscribed to only half of the total shares offered to international and domestic institutional investors, dealing the first blow to an ambitious privatisation agenda. Pakistan was planning to raise $ 4 billion by selling some key state-owned ... Read More »

$4b privatisation of SOEs, PIA in doldrums post OGDCL failed sale of 313m shares at Rs216

ISLAMABAD: The government scrapped Oil and Gas Development Company’s (OGDCL) transaction after investors subscribed to only half of the total shares offered to international and domestic institutional investors, dealing the first blow to an ambitious privatisation agenda. Pakistan was planning to raise $ 4 billion by selling some key state-owned enterprises (SOEs), including national carrier PIA but the plan seems ... Read More »

$4b privatisation of SOEs, PIA in doldrums post OGDCL failed sale of 313m shares at Rs216

ISLAMABAD: The government scrapped Oil and Gas Development Company’s (OGDCL) transaction after investors subscribed to only half of the total shares offered to international and domestic institutional investors, dealing the first blow to an ambitious privatisation agenda. Pakistan was planning to raise $ 4 billion by selling some key state-owned enterprises (SOEs), including national carrier PIA but the plan seems ... Read More »

OGDCL’s 313m shares sale at Rs216 scrapped, $4b privatisation of SOEs, PIA still in doubt

ISLAMABAD: The government scrapped Oil and Gas Development Company’s (OGDCL) transaction after investors subscribed to only half of the total shares offered to international and domestic institutional investors, dealing the first blow to an ambitious privatisation agenda. Pakistan was planning to raise $ 4 billion by selling some key state-owned enterprises (SOEs), including national carrier PIA but the plan seems ... Read More »

OGDCL’s 313m shares sale at Rs216 scrapped, reservations now on $4b privatisation of SOEs, PIA

ISLAMABAD: The government scrapped Oil and Gas Development Company’s (OGDCL) transaction after investors subscribed to only half of the total shares offered to international and domestic institutional investors, dealing the first blow to an ambitious privatisation agenda. Pakistan was planning to raise $ 4 billion by selling some key state-owned enterprises (SOEs), including national carrier PIA but the plan seems ... Read More »

PIA paying Rs3.29 billion interest on legacy loans

ISLAMABAD: On arrival of 8th Airbus A-320, Adviser to the Prime Minister on Aviation Affairs, Shujaat Azeem said that Pakistan International Airlines (PIA) will induct 10 more narrow body Airbuses and five ATR aircraft by the end of December, 2014. While talking to media during his visit to Benazir International Airport, the induction of more aeroplanes in PIA would help ... Read More »

ECC okays 20pc duty on wheat import, Rs12b loan guarantee for PIA

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, under the chairmanship of Finance Minister Ishaq Dar, has decided to impose 20 per cent regulatory duty on the import of wheat due to rising trend of wheat imports despite a very good crop in the country. Meanwhile, the ECC also approved government guarantee for loans to PIA amounting to Rs12 ... Read More »

Airbus A-320 inducted: 10 more Airbuses, 5 ATRs to change PIA fate

ISLAMABAD: On arrival of 8th Airbus A-320, Adviser to the Prime Minister on Aviation Affairs, Shujaat Azeem said that Pakistan International Airlines (PIA) will induct 10 more narrow body Airbuses and five ATR aircraft by the end of December, 2014. While talking to media during his visit to Benazir International Airport, the induction of more aeroplanes in PIA would help ... Read More »

Employees union pressurizing PIA over transfer of officials

LAHORE: The workers of Pakistan International Airlines went on a strike on Monday as the airline did not increase their wages. However, the PIA management is blaming Air League of PIA Employees for putting pressure over the issue of transfers of some officials. Sources said that several booking offices of the national airliner have been closed as well due to ... Read More »

Govt to consult all stakeholders on PIAC privatization

ISLAMABAD: Government will finalize relevant modalities for the privatization of the Pakistan International Airlines Corporation (PIAC) in consultation with PIA management and all the stakeholders involved. These modalities are related to the transaction, including restructuring and divestment strategy, transaction structure, divestment mode and others. The Government of Pakistan is the principal stakeholder holding 85% share capital while 8% is held ... Read More »

PIA restructuring plan in the offing: State Minister

ISLAMABAD: Minister of State for Parliamentary Affairs Sheikh Aftab Ahmad on Thursday informed the National Assembly that restructuring plan of the Pakistan International Airlines (PIA) through strategic partnership is on the cards. He said Privatization Commission has been given the task to pursue privatization of national airline by divesting 26% of its shares. This would save the airline from losses ... Read More »

New PIA chairman to assume charge soon: SC told

ISLAMABAD: Supreme Court (SC) has been told that Naseer S M Jaffar, the news chairman of PIA, will soon assume charge of his office. A 3-member bench of SC headed by Chief Justice of Pakistan (CJP) Nasir ul Mulk took up PIA chairman appointment case for hearing Thursday. Attorney General (AG) while presenting report in the court told chairman PIA ... Read More »

PM Nawaz appoints Jaffer new PIA chairman

ISLAMABAD: Nasser N S Jaffer, the CEO of Jaffer Group of Companies, has been appointed as chairman Pakistan International Airlines (PIA) by the Aviation Division. As per media reports, the new PIA chairman is appointed after approval from Prime Minister Nawaz Sharif. Thankful for being selected for the post, Jaffer said he would strive for transforming PIA into a profitable organisation ... Read More »

PIA to establish 12 Aircraft Maintenance training centers by 2015

ISLAMABAD: In line with Prime Minister’s Youth Programme, PIA will establish 12 Aircraft Maintenance training centers across the county before mid 2015 to train the youth in this important field. This was announced by Advisor to Prime Minister on Aviation Shujaat Azeem while inaugurating second training Centre of PIA on Wednesday at Rawalpindi. Shujaat said that in two years our ... Read More »