Mr Jaffer said the PIAC had been converted through Ordinance No XVII dated Dec 4 from a statutory corporation into a company governed by the Companies Ordinance, 1984.
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The Pakistan Peoples Party (PPP) has rejected the presidential ordinance to privatise Pakistan International Airlines (PIA) by bypassing the parliament, said PPP Senator, Chairman Senate Standing Committee on Finance and Revenue, Senator Saleem Mandviwalla in a statement on Monday.
“Prime Minister should attend the parliament session”, he added. He said this while briefing Prime Minister Nawaz Sharif on the ordinance during a meeting on Tuesday.
Senior Vice President Zameer Chandio of Peoples Unity of PIA Employees (CBA) said they “will not let the PIA privatized at any cost”.
As he stated, “PIACl has succeeded to all the assets, liabilities, duties and obligations of PIAC”.
He said all stakeholders, employees of every grade and category stood transferred to the company, PIACL, with the same designation and on the same terms and conditions as they held in PIAC.
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He demanded to set up a judicial commission for probing the affairs of PIA and a financial audit of the last 10 years, so those responsible would be brought to justice before the privatisation of the national flag carrier. “Firstly, the government should have created a consensus for this, and secondly, [I don’t think that] in its current state, the privatisation of the national carrier will fetch a good price”. The workers of the airline have been also up in arms and protesting against the decision by the government. As a corporation, the minister explained, joint secretary-level officials could create lots of problems in its smooth functioning. The announcement prompted protests by PIA employees. “Whenever it is privatised, it will be done in consultation with other political parties”. Separately, Shah said making the budget “outside” parliament is not appropriate, and if it was necessary to impose new taxes it should have been done through it. He highlighted the importance of restoring confidence of investors in the economic policies and providing them business-friendly atmosphere.
