Business
Salaries of PIA employees raised upto 25pc
Contract employees and those who are on four-month leave without pay not eligible for salary increase
Karachi: The salaries of Pakistan International Airlines (PIA) employees has been raised upto 25 per cent, to be implemented from November 1, 2021.
According to the details garnered, the pay group 1 and 2 comprising of admin and technical staff will get a hike in salary by 25 per cent, followed by an appraisal of 20 per cent for pay groups 3 and 4.
It was also reported that the engineering official under the pay groups 5 and 6 will get a pay raise by 15 per cent while the salaries of aircraft engineers, cockpit crew and general managers under the pay group 7 to 9 will be raised by 10 per cent.
It further added that contract employees, those who have been terminated or forced to retire from service, and those who are on a four-month leave without pay are not eligible for the salary increase.
It is noteworthy here that those who join the service after the holidays will be eligible for a raise from the day they start.
It is pertinent to mention here that the PIA's deficit has declined in the last three years but it has not come down yet.
The national airline has released its financial report for the Pakistan Stock Exchange for the year ended December 31, 2020.
As per financial report, the PIA has been able to reduce its losses and expenses throughout the year. Operating expenses have decreased from Rs140 billion to Rs93 billion. In 2019, the net loss was Rs53 billion which came down to Rs35 billion, which is the lowest deficit in the last five years.