By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sign In
Latest World News UpdateLatest World News UpdateLatest World News Update
Notification Show More
Font ResizerAa
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Live Streaming
  • Legal Talk
Reading: Pakistan International Airlines’ bidders demand dismissal of 76 pc of workforce – World News Network
Share
Latest World News UpdateLatest World News Update
Font ResizerAa
Search
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Live Streaming
  • Legal Talk
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Latest World News Update > Blog > World > Pakistan International Airlines’ bidders demand dismissal of 76 pc of workforce – World News Network
World

Pakistan International Airlines’ bidders demand dismissal of 76 pc of workforce – World News Network

worldnewsnetwork
Last updated: October 4, 2024 12:00 am
worldnewsnetwork
Share
3 Min Read
SHARE

Islamabad [Pakistan], October 4 (ANI): As the Pakistani government moves forward with the privatisation of Pakistan International Airlines (PIA), potential buyers have introduced new conditions, particularly concerning the airline’s employees, according to ARY News.
During a Senate Privatisation Committee meeting chaired by Senator Talal Chaudhry on Thursday, it was disclosed that companies interested in acquiring PIA are requesting significant changes, ARY News reported.
Among the key demands is the immediate dismissal of all employees, along with the acquisition of 76 percent of PIA’s shares, with the government bearing responsibility for settling outstanding tax liabilities.
The bidders also requested an extension to the due diligence deadline, indicating potential delays in the privatisation process, ARY News reported.
The Privatisation Commission has attempted to negotiate terms that would safeguard employees from layoffs for at least two to three years. However, the bidders have reportedly refused to make any such commitments, expressing unwillingness to retain employees or assume pension liabilities.
Despite four pre-bid meetings, uncertainty remains over tax issues and the future of PIA’s workforce. The privatisation process, now rescheduled for October 31, has faced criticism due to the absence of a clear plan to protect employees, ARY News reported.
Chairman Talal Chaudhry expressed concern about the impact of delays on PIA’s reputation, while the Privatisation Commission acknowledged that negotiations with bidders are ongoing. The outcome could result in the sale of up to 76 percent of PIA’s shares, depending on the final agreements reached, ARY News reported.
Pakistan’s Finance Minister, Muhammad Aurangzeb, on October 2, reaffirmed the government’s commitment to privatising PIA and three power distribution companies before the year’s end, ARY News reported.
The privatisation of PIA, initially set to conclude by October 1, has been postponed to October 31 due to low bidder interest, ongoing court cases, an ageing fleet, and civil aviation concerns, according to ARY News. (ANI)


Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News

sponsored by

WORLD MEDIA NETWORK


PRESS RELEASE DISTRIBUTION

Press releases distribution in 166 countries

EUROPE UK, INDIA, MIDDLE EAST, AFRICA, FRANCE, NETHERLANDS, BELGIUM, ITALY, SPAIN, GERMANY, AUSTRIA, SWITZERLAND, SOUTHEAST ASIA, JAPAN, SOUTH KOREA, GREATER CHINA, VIETNAM, THAILAND, INDONESIA, MALAYSIA, SOUTH AMERICA, RUSSIA, CIS COUNTRIES, AUSTRALIA, NEW ZEALAND AND MORE

Press releases in all languages

ENGLISH, GERMAN, DUTCH, FRENCH, PORTUGUESE, ARABIC, JAPANESE, and KOREAN CHINESE, VIETNAMESE, INDONESIAN, THAI, MALAY, RUSSIAN. ITALIAN, SPANISH AND AFRICAN LANGUAGES

Press releases in Indian Languages

HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages

Email - support@worldmedianetwork.uk
Website - worldmedianetwork.uk

India Packages

Read More

Europe Packages

Read More

Asia Packages

Read More

Middle East & Africa Packages

Read More

South America Packages

Read More

USA & Canada Packages

Read More

Oceania Packages

Read More

Cis Countries Packages

Read More

World Packages

Read More
sponsored by

You Might Also Like

Impose ‘illogical’ additional Trump tariff on Turkey, China, EU and US importers: Amitabh Kant – World News Network

A King’s gift, now an Indian icon: The story of Jeep Wagoneer at Red Fort as nation celebrates its 79th Independence Day – World News Network

“They were ready to go nuclear, we solved that”: Trump again claims credit for India-Pakistan ceasefire – World News Network

‘Only Trump knows what’s next…’: Ex-NSA Pankaj Saran says India-US strain part of global disruption – World News Network

Ahead of Alaska summit, Trump says Putin, Zelensky ‘will make peace’ – World News Network

Share This Article
Facebook Twitter Copy Link Print
Share
Previous Article Campaigning for Haryana assembly polls ends; BJP eyes to retain power for third term, Congress hopes comeback – World News Network
Next Article Junior doctors issue 24-hour ultimatum over Kolkata doctor’s murder, threaten hunger strike – World News Network
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

- Advertisement -

Latest News

“Standing tall like a wall in front of policies against farmers”: PM Modi – World News Network
National August 15, 2025
“Jai Hind! Jai Bharat!”: Priyanka Gandhi Vadra extends Independence Day greetings – World News Network
National August 15, 2025
“Agar ham atmnanirbhar nahi hote…”: PM Modi hails Op Sindoor as example of Atmanirbhar Bharat – World News Network
National August 15, 2025
“Navroz symbolises renewal, hope, prosperity”: President Murmu extends greetings on Parsi New Year – World News Network
National August 15, 2025

Sports

Heist of 1983, IPL and Dhoni’s epic triple: India’s greatest cricketing feats in post-independence era – World News Network
Sports
UEFA Super Cup: Spurs fumble 2-0 lead as PSG capture title on penalties – World News Network
Sports

Popular Category

  • Business
  • Entertainment
  • Health
  • Lifestyle
  • National
  • Science
  • Sports
  • Tech
  • Videos
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Press Release
  • Press Release Distribution Packages

Entertainment

“I am a very proud Indian”: Music composer Anu Malik urges citizens to commit towards a better India on Independence Day – World News Network
Entertainment
Independence Day 2025: Actor Annu Kapoor calls for “collective responsibility” among citizens towards success of India – World News Network
Entertainment
Latest World News UpdateLatest World News Update
Follow US
Copyright © 2023 World News Network. All Rights Reserved
Welcome Back!

Sign in to your account

Lost your password?