PIA announces bonus for employees

• A bonus will be given based on the employee’s average performance.
• The bonus will be effective on October 1, 2023.
• PIA has taken 260 billion in loans from commercial banks so far.

Pakistan International Airline (PIA) has announced a bonus for employees for average performance, despite gross losses of more than Rs 740 billion, which will be effective from October 1, 2023.

According to the announcement issued by the National Airline, the bonus has been announced in recognition of the efforts of the employees for positive financial results from April to September 2023.

The announcement said that employees who received new recruitment, promotion, or salary increases between April 1, 2022, and September 30, 2023, will not be eligible for this increment.

Moreover, employees who gave notice to leave on or before October 2023 will also not be considered for this bonus.

On the other hand, employees against whom disciplinary cases are pending will not be entertained for this bonus, which will be five to ten percent of the salary as of March 31, 2023.

It should be noted that it is difficult for a national airline to maintain its operation due to repeated fuel outages, while the monthly income is Rs 22 billion and the expenses are up to Rs 34 billion.

In this regard, as per the sources of the Ministry of Finance, the caretaker Finance Minister cried about the crisis at National Airlines on Friday, while PIA has taken a loan of Rs 260 billion from commercial banks on government guarantee.

Sources said that PIA is not paying 1 billion to 250 million rupees in tax to FBR and is not able to pay more than 1 billion rupees per month to civil aviation.

According to the caretaker Federal Minister for Privatization, Fawad Hasan Fawad, 15 out of 34 PIA planes are grounded; the airline is operating with only 19 planes, and some of them are also grounded.

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PSO restores supply of jet fuel to PIA

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Earlier, Pakistan State Oil (PSO) and Pakistan International Airlines(PIA) have reached a temporary solution to the dues payment dispute.

According to details, a temporary settlement has been reached between PIA and PSO regarding payment of dues, after which the supply of jet fuel to PIA has been restored.

PIA has paid Rs 500 million PSO. The PSO said the current payment limit will expire by tomorrow evening.