This is apropos a Business Recorder’s editorial on Pakistan International Airlines’ woes carried by the newspaper earlier this month. The newspaper, in my view, has strove to make a case for airline’s sell-off. According to it, for example, “India for example sold Air India to the Tata group recently after failing to sell a majority stake in 2018 at Rs18000 crores with 15 percent to be deposited in the exchequer and the rest to clear the Airline’s debt.
Air France and KLM merged to strengthen the financial fortunes of the two airlines. Insofar as our penchant for foreign direct investment (FDI) is concerned, we need to revisit our policy and restrict such investment in areas of highly capital intensive projects and those that would result in transfer of advance technology and know-how that does not exist and is needed by us.”
It is true that Air India was a national flag carrier of India with its headquarters in New Delhi. But we must not lose sight of the fact that PIA is not Air India. Both have different histories and different cultures. PIA can be turned around because its history is highly fascinating. The new management in PIA has produced some remarkable results aimed at improving the condition of this beleaguered airline. They need to be given some more time.
Nusrat Javed (Karachi)
Copyright Business Recorder, 2022
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