May 04 , 2016
News
PM appoints Sehgal as PIA chairman
ISLAMABAD – Prime Minister Nawaz Sharif Wednesday appointed Azam Sehgal as the chairman of the Pakistan International Airlines (PIA), a private TV channel reported.It is pertinent to mention here that Sehgal had resigned as board member of PIA on April 14, 2014. Reports circulating in the media over his resignation pointed towards corruption and mismanagement.
Earlier in April, the parliament adopted a law that will convert the cash-strapped national airline into a limited company but bar the government from giving up its management control.
Privatisation Commission Chairman Mohammad Zubair, who is a member of the ruling Pakistan Muslim League-N, had said the government would remain the major shareholder.
The government has struggled to meet its deadline to sell PIA, which has accumulated losses of more than $3 billion, after a delay of many months in amending a 1956 law that barred it from being privately owned.
Courtesy www.dailytimes.com.pk