ISLAMABAD: Chief Justice of Pakistan Justice Saqib Nisar on Thursday ordered to out the name of all Managing directors of Pakistan International Airlines (PIA), who served from 2008 to 2018 on the Exit Control List (ECL).
CJP ordered this while hearing the suo motu case into the national flag carrier’s reported privatization and audit on Thursday.
Chief justice remarked that they are making a commission to investigate the matter of PIA’s losses and alleged privatization.
CJP remarked that the PIA bosses destroyed such a large asset referring to PIA former MDs in which some of them were present in the court.
Those who destroyed the PIA will face the punishment according to the constitution, CJP remarked.
The court also ordered the production of the MDs in whose tenure the most losses occurred.
During the hearing, the PIA’s counsel presented a 9-year audit record and informed in response to a query that the organization’s share is being sold at Rs5 at present.
The apex court also sought a reply from the federal government on the privatization of the airline and summoned the attorney general.
The court was informed by the PIA counsel that the airline suffered a loss of Rs44 billion in 2013, Rs37 billion in 2014, Rs32 billion in 2015, Rs45 billion in 2016 and Rs44 billion in 2017.
The court had also reportedly directed that no fresh recruitment shall be made in the PIA.
The loss-making national airline has accumulated vast debt over several years owing to official mismanagement.
Despite some initial success, the process stalled in 2016 after staff protests caused havoc with PIA operations and the government passed a law that effectively made it impossible to privatize the airline.