Economic Coordination Committee (ECC) on Monday, approved voluntary separation scheme for PIA employees to ease financial burden on the national carrier.
According to details, ECC has approved voluntary separation scheme (VSS) for employees of Pakistan International Airlines (PIA) to ease the financial strains and burdens on the national carrier which is facing dire economic circumstances.
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The meeting was presided by Advisor to the Prime Minister on Finance and Revenue, Dr Abdul Hafeez Sheikh.
The voluntary separation plan intends to ‘let go’ of up to 7,500 PIA employees which essentially will cost the national carrier around Rs 13 billion.
PIA currently employs 15,000 personnel which have in-fact become a financial burden due to dire economic circumstances and dynamics.
ECC has suggested a minimum limit of 3,500 employees that need to be fired.
The firing of 7,500 employees will save PIA Rs 4 billion per year.
It is to be noted that, PIA Board of Directors have already approved the VSS scheme 2020 during its 48th meeting.
