Karachi: The Pakistan International Airlines (PIA) Wednesday started giving payments to its employees who opted for early retirement under the voluntary separation scheme (VSS). According to the airline’s statement, more than 100 retiring employees have so far been given cheques under the VSS, while the payment process continues.
The statement said that an amount of Rs 9.84 billion was transferred into a PIA account titled “GOP Cash Support to PIACL For Voluntary Separation Scheme” in the National Bank of Pakistan (NBP), Shaheed-e-Millat Road Branch, Karachi to make payments to the employees.
Over 2,000 employees of PIA opted for the VSS scheme brought in by the national airline to reduce costs.
The scheme, aimed to allow Pakistan International Airlines employees a compensation amount for leaving their jobs voluntarily, ended on December 31. The federal government had provided funds of Rs 9.84 billion to the national flag carrier.
Chief Executive Officer (CEO) of the airline Air Marshal (Retired) Arshad Malik thanked the federal government and chief accountant Pakistan for releasing the fund of PIA’s early retired employees.
