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"Let there arise out of you a band of people inviting to all that is good enjoining what is right and forbidding what is wrong; they are the ones to attain felicity".
(surah Al-Imran,ayat-104)
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User Name: Noman
Full Name: Noman Zafar
User since: 1/Jan/2007
No Of voices: 2195
 
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Pakistan International Airlines (PIA) is in such dire financial straits that it may be threatened with liquidation because of its monthly losses of more than Rs1 billion and its current liabilities which exceed its assets by more than Rs20 billion, sources told Dawn.

These conditions indicate the existence of a material uncertainty which may cast significant doubt about the corporation "˜s ability to continue as a going concern, said its internal auditors in a half-yearly report for the period ending on June 30, 2006, approved by the PIA board of directors.

A senior finance ministry official told Dawn on Thursday that long-term financing on the back of government guarantees or a direct equity injection by the federal government could bail out the company and improve its cash flows which otherwise is a fit case for liquidation.

A senior PIA official, when contacted, said the board of directors of the corporation which met on October 30 also approved another net loss of about Rs3 billion, taking net losses to Rs9 billion as of September 30. As such accumulated losses reached Rs22 billion. He, however, said a financial restructuring plan had already been submitted to the ministry of finance.

The corporation's chartered accounts Anjum Asim Shahid Rahman and Ford Rhodes Sidat Hyder & Co wrote in their note to the half-yearly report that the corporation has incurred a gross loss of Rs74 million and a net loss of Rs6.144 billion during the half year ended June 30, resulting in accumulated losses of Rs17.944 billion on the balance sheet date.

According to the auditors, the corporation's current liabilities on June 30 this year exceeded its current assets by Rs20.326 billion. The auditors said: "Due to lack of adequate audit trail to support the carrying value of inventories at moving average costs as a result of problems with the inventory management system, we could not verify the valuation of capital spares and consumable stores and spares with carrying value of Rs3.716 billion and Rs2.464 billion, respectively."

In layman terms, the auditors were not satisfied with the PIA's methodology to evaluate costs of inventories and were not ready to give audit certificate for Rs6.2 billion accounted for as capital spares and consumable stores.

When contacted, Dr Ashfaq Hassan Khan, spokesman of the finance ministry, said he was not in the picture about the financial problems of the national flag carrier but hoped the corporation would not be liquidated and added that such a state of affairs in PIA was "˜normal'.

Another senior official of the finance ministry said the corporation had been asked to conduct a need assessment of the finances and come up with proposals about how it wanted to meet those needs.

The PIA management said the net loss of Rs6.144 billion was due to increase in international fuel prices. The fuel cost for the half year ended June 30, 2006, amounted to Rs16.442 billion.

PIA spokesman Imran Ghaznavi said the corporation's liabilities had surpassed its assets by Rs22 billion by September 30 because of higher fuel prices. He said the company had asked the government for financial restructuring and "they are examining our proposals". The corporation on its part was taking cost cutting measures to reduce losses, he said.

The airline is currently considering operational restructuring measures, including disinvestment of its holding in PIA Investment Limited or dispose of its properties to improve cash flows. The national flag carrier's cash flows have already been hit by the European Union regulators' decision to curtail some of its flights on the lucrative European sectors, particularly United Kingdom, on account of safety concerns due to inadequate maintenance.

Already, as part of the financial package an amount of Rs6.575 billion has been provided to the corporation up to June 30, 2006, against which 543 million A-class ordinary shares of Rs10 each were issued to the GOP. Another Rs114 million shares are expected to be issued during the current financial year.

The federal government has already provided Rs8.8 billion as equity and guarantees to the PIA for the purchase of eight new Boeing 777 aircraft out of which five have been acquired to date.
 
SUROSH SHAH
 Reply:   The UK "police" did not ban th
Replied by(Noman) Replied on (5/Mar/2007)
The EU which is trying to save its airline manufacturer Airbus which will soon go bust

The UK "police" did not ban the PIA aircraft Mr foreskin.

The EU which is trying to save its airline manufacturer Airbus which will soon go bust ( and which recently laid off 10.000 employees according  to the BBC on 28 Feb 07 ) is trying to punish Pakistan for buying American Boeings and trying to force Pakistan into buying  the European Airbus.

The easiest way of punishing our country  which is still ruled by their colonial slaves is by banning PIA flights .

They cannot do this to India because India manufactures its own aircraft---unfortun ately for Pakistan which has its Presidents, PM's , Military hardware , and foreign and defence policies all sent by the West.

For the British there is the added fun of causing misery to Pakistani travellers and the "Paki" community in Britain.

PIA may be in bad shape but it has seen much worse in the times of Benazir and Nawaz.

The  worst tragedy for Pakistan  is that it is easy to find apologists and idiots like the one below who try to rationalise the EU governments' racist "sanctions" against Pakistan.

"geekpolitique" <geekpolitique@yahoo.co.uk>
 
 Reply:   BRAIN DRAINED IN PIA : barkat
Replied by(Noman) Replied on (5/Mar/2007)
EXACTLY what led Fokker to recent crash near Multan, killing all 45 passengers on board?
EXACTLY what led Fokker to recent crash near Multan, killing all 45 passengers on board? Different people have different opinions. The official reason behind the crash will come, if ever it comes, later possibly in next couple of weeks.

Awaiting this, let's spare some thoughts on the larger issue of brain drain not alone in aviation but generally in every occupation, skilled and unskilled, with reference to its impact on the socio-economic health of the nation.
Perhaps this was one reason that a number of skilled technicians left PIA early this year, because as reports had it, employed with the national carrier air-technicians were getting Rs15000 to 40,000 monthly salaries and, on migration their salaries should have jumped to something between Rs100,000 to 300,000.
 
SUROSH  SHAH
DRINKING WATER FOR PIA ENGINEERING FROM 2000 UPTODAY
 
KARACHI, July 23: The drinking water being provided to the PIA's Engineering Department is unfit for human consumption and does not meet the WHO standards, it is learnt reliably.

The claim is based on lab test reports and according to sources, the tests were conducted not only by the country's premier scientific organisation, the Pakistan Council of Scientific and Industrial Research (PCSIR), but also by the PIA's in-house doctors.

The sources said that PIA's chief engineer base management,, has approached his bosses and top management officials, including SVP (Engineering) , SVP Safety and HSE, MTS (Finance), ME (P&B) Maintenance asking them to prepare a contingency plan on a priority basis for some alternative arrangement to ensure safe drinking water for PIA employees.   "An analysis was carried out by a team of PIA doctors, led by Dr Mohammad Yaar Khan, regarding suitability of drinking water at the Engineering Department on July 17, 2006. The results confirmed that the water is not fit for drinking."

According to PCSIR chemical analysis, the water samples contained sodium 250ppm as against 200ppm prescribed by the WHO; chloride 372ppm as against 250ppm; and total dissolved solids 1,112ppm as against 1,000ppm. While the PIA water also contains calcium 64ppm, magnesium 51ppm, and potassium 8ppm, the WHO does not approve the presence of these substances in safe drinking water.

Meanwhile, the Air League of PIA Employees (CBA), condemning the management for putting employees' health at risk, said underground water tank had probably never been cleaned.
THE  CORROSION COTAMINATED REDISH WATER WAS POINTED OUT IN 2000 IN FRONT OF MD PIA SHEER AFGAN.
     THAT  PERSON WAS PUNISHED BY WARNING LETTER OF MISCONDUCT BY DIRECTER ENGINEERING. 
MANY MANY PIA ENGINEERING EMPOLYEES SUFERING  WITH  HEPATITIS   C.
 AND MANY DIED DUE HEPATITIS C.
SUROSH SHAH
PIA MANAGEMENT THOUGHT EU WARNINGS ARE JUST LIKE SUPREM COURT OF PAKISTAN
ORDER
 
0-   WHEN THE  UK  POLICE  CALLED  THEIR OWN  PM TONI BLAIR  FOR  INVESTIGATION.
THEY  CAN  ALSO  BAN PIA  UNAIRWORTHY  AIRCRAFTS.
1-     PIA  MANAGEMENT  THOUGHT  EU  WARNINGS  ARE  JUST LIKE  SUPREM  COURT OF  PAKISTAN  ORDER. 
2-     PEOPLE  OF  PAKISTAN I THINK  FORGOTTEN  BOING-777 PURCHASE  SCANDLE  IN MUSHARAF PERIODS.
3-     SIX  AIRBUS- 310  ARE  ON  LEASED AND PIA PAYING ANNUALLY  MORE AND MORE THAN THEIR ACTUAL COST.
4-     BOEING- 777 AIRCRAFTS  ARE  NOT  THE PROPERTY OF PIA.
THE  OWNER  OF  777  IS  TAXILA  LIMITED.WHERE  IS  THE OFFICE  OF  TAXILA LIMITED  ON  THIS EARTH ?
5-     AIRCRAFTS  SPARE  PARTS  WHICH  CAN LOCALLY OVERHAUL BUT NOT  DOING  HERE. SENDING ABROD.
             
 6-                PIA  CHAIRMAN  DON'T HAVE  ANY AVIATION EXPERIENCE.
7-AIRVICE MARSHAL  SVP  OF  ENGINEERING  DON'T HAVE AIRLINE  EXPIRENCE. ITS  A  CRIME AS  INTERNATIONAL CIVIL AVITION ORG  RULES.
8-   PUT  ALL  CHIEF ENGINEERS  FROM  PAF RETD PERSONS HAVING NO EXPIRENCE OF AIRLINE.
9-      ILLEGALE  MANAGEMENT  OF  ENGINEERING AS  PER  INTERNATION RULES  PIA  AIRCRAFTS  ARE NOT AIRWOTHY.
AND UNAIRWORTHY  AIRCRAFT MEAN  THE INSURACE OF AIRCRAFTS  AND PASSENGERS  NOT  VALID.
 10-  PURCHASE  OF  SPARE PART  SIMPLELY  IS 3200 U.S DOLLARS.PIA PURCHASEING  IN  32000 US DOLLARS.
                             
 
                 DGCAA    REHMATULLAH  DON'T HAVE AVITION EXPIRENCE.
SO DOWN THE LINE EVERY CAA ORDER/LAW DON'T HAVE ANY VALUE. REF  ICAO  RULES.
ALL  SENIOR POSTS OCCUPPIED PAF.
 
1-      Canbilization  in  PIA  become  a daily rountine maintinance  practice .now touching  highest  dangrious level.can  affect the  aircraft safety any time .is this practice any where else in world ?
      Canabilization  without information think about it.
2-beoing  777  check C  pencil inspections carried out  as there was no special tools of free play checks on ailerons'elevators' rudder
so the  aircrafts are not airworthy.
 
3-speed governing tester,EGT accuracy tester not available in PIA on RB-211- RR ENGINES 747-300.
 
4- installation  of  hi EGT engines  on check C/D aircrafts(B- 747-300) as removed by line maint.   
 
5-working  in dark outside the hangar without lite.not provided the dry battry
torches to  the staff.leak check after the ground run in the dark.
 
6- illegal installation of heavy duty/overweight seats on A-310 aircrafts even on vvip aircraft.  aircrafts A-310 are  not  airworthy.
 
7- find out those supermen who worked  on B-747 check D and B-777 check    
     C  same days.aircrafts  not airworthy.
 
8- contract chief engineer W.B doing the bizness on the name of wife in the    age of  64 what a superman .
 
9- overhauling of  parts/engines from fake companies
 
10- murder of technician in LM-I due explosion of  B-737 TYRE.
 
11-pencil calibration of tools and equipments .
 
12- check C/D aircrafs becomes  as spare parts stores.
 
13- concessnal  tickets by the airlines to CAA staff is simply a bribe.
 
14- rate of aircraft accidents in Pakistan ?.
 
15-permotions of  kids so adults going emirates airline
 
unqalified/unexpria nced  (AVM )svp engineering only in Pakistan.
 
 
                             UNAIRWORTHINES( CAA)SOUNDSLEEP
THERE  TOO  MANY IRREGULARAITIES .WHAT  TO WRITE AND WHAT   NOT TO WRITE.

 
 Reply:   PIA HAS GONE INTO THE SIDE SLI
Replied by(Noman) Replied on (5/Mar/2007)
Over 60 domestic and international flights of the Pakistan International Airline were delayed over the past 15 days due to technical snags
By Tahir Siddiqui

KARACHI, Nov 17: Over 60 domestic and international flights of the Pakistan International Airline were delayed over the past 15 days due to technical snags. Sources told Dawn on Friday that inspection of aircraft by the Civil Aviation Authority was not the only reason for the flight delays; an unannounced "˜go-slow' by ground engineers to press for their demands was also affecting the schedule .

An aircraft engineer who did not want to be named said the go-slow would continue till their salaries were enhanced.

There are over 700 ground engineers and over 1,300 aircraft technicians in the national carrier. A number of senior engineers and aircraft technicians have left the PIA since January this year for better jobs.

A member of the Society of Aircraft Engineers of Pakistan told Dawn that the PIA management was not accepting resignations being tendered by ground engineers and aircraft technicians. "Dozens of such resignation are pending acceptance", he added.

 
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