Home / Economy / Rs 360 billion loss to PIA in Nawaz – Zarfari era: Audit Report

Rs 360 billion loss to PIA in Nawaz – Zarfari era: Audit Report

According to the audit report of the last 10 years, the national entity PIAhad suffered the losses of Rs360 billion since 2008. PIA incurred the losses of Rs28 billion in 2001, Rs36 billion in 2008, Rs45 billion in 2016, and 44 billion in 2017.

READ MORE:Pakistan summons Indian deputy high commissioner to Foreign Office

The 88 per cent of the losses were caused during the past ten years because of higher expenditures than the PIA’s income. The recruitment in PIA had been made on political basis over the last 10 years, the report say.

After going through the audit report, the chief justice had said the losses caused by PIAto the national exchequer stood at Rs73 billion in 2008 but soared to Rs360 billion within a decade.

READ MORE:UAE Crown Prince visit to Pakistan, agenda revealed

The court was further informed that there were seven unions of PIA employees having affiliation with different political parties.

About admin

Check Also

Additional capital requirements for major banks to improve financial stability: Moody’s

KARACHI: Moody’s on Thursday said the fresh capital requirements set by the central bank for …

Leave a Reply

Your email address will not be published.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