The Board of Directors of Pakistan International Airlines (PIA) has approved a cadre-wise salary increase for its employees, marking the first raise in four years. The decision, announced on Friday, comes as a relief for staff grappling with inflation and financial strain.
According to a PIA spokesperson, the salary adjustment was finalized during a recent board meeting and is aimed at improving the financial well-being of employees, whose purchasing power has eroded due to rising costs. The airline’s workforce has also seen a decline, with the total number of employees now falling below 7,000.
Meanwhile, PIA continues to struggle with severe financial challenges. The government, under pressure from the International Monetary Fund (IMF) as part of a $7 billion loan program, is pushing forward with efforts to privatize the national carrier.
The initial attempt to sell a 60% stake in PIA failed in November last year when the Blue World Consortium’s Rs 10 billion bid was rejected—far below the Privatisation Commission’s minimum valuation of Rs 85 billion. Following the unsuccessful bid, authorities have relaunched the sale process, with several new and returning investors expressing interest.
The Privatisation Commission has stated it is “fully prepared” for a second attempt at selling PIA, as part of Pakistan’s broader strategy to reform state-owned enterprises and stabilize its struggling economy.
