The federal government has decided to overhaul and restructure large corporations. Three and a half thousand PIA employees will be given a golden handshake. The number of employees will be reduced from 14,000 to 7,000.
The national airline will be operated on new profitable routes, and five companies will be set up to improve the railway department.
The companies will look after the affairs of the regulator, freight, passenger and ML One, a company will be with the government which will oversee the administrative affairs.
Pakistan Steel will also be leased to the private sector. The private sector will be given 1250 acres of land belonging to Pakistan Steel Mills.
It may be recalled that Information Minister Senator Shibli Faraz and Advisor on Institutional Reforms Dr Ishrat Hussain had said during a press conference that previous governments had given employment bureaus to other state institutions including Steel Mill, PIA, Railways, State TV and Radio Pakistan. She has been making political recruitments with understanding.
Senator Shibli Faraz said that the purpose for which the institutions have been set up, if they do not work towards this purpose, then their usefulness decreases and ends.
He said that 80 per cent of the funds given to the PNCA, state TV, radio, folk heritage and literary division institutions have to be paid in salaries.
