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Pakistan International Airlines has appointed former Air Vice Marshal Muhammad Amir Hayat as CEO for one 12 months.
This week, the outgoing authorities mentioned it deliberate to privatise loss-making flag provider, which has accrued a whole bunch of billions of rupees in losses and arrears.
The transfer could be in keeping with an International Monetary Fund (IMF) deal.
Hayat had been the performing CEO since April 2022, after the previous CEO’s retirement.
The authorities may have appointed Hayat as CEO for 3 years, however the prime minister determined to nominate him for one, mentioned PIA spokesperson Abdullah Khan.
This week, the Cabinet Committee of Privatisation additionally backed the hiring of a monetary adviser to course of transactions involving the Roosevelt Hotel in New York, an asset of PIA Investment Limited.
PIA hopes to renew flights to the UK within the subsequent three months. Services have been suspended since 2020 amid a pilot licensing scandal.
Pakistan agreed to fiscal self-discipline plans as a part of a $3 billion association with the IMF, together with the privatisation of loss-making property.
