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From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan
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#1
Administrator
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From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 6, 2005 5:19 PM
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#2
Fatin Khan
aliencynic@yahoo.co.uk


Posts: 661
From: Germany
Registered: Jun, 2004


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 7, 2005 5:38 AM
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It is commendable to expose irregularities in public sector corporations like PIA. Unfortunately this "mal-i-ghaneemat"
kind of attitude towards public enterprises is neither limited to, nor an isolated incident in PIA. Whole country has been killed. It is now dead body of Pakistan which is being mutilated by morally bankrupt military elite and their political stooges. Whole (lack of) system is subservient to one person who is accountable to none. Public sector institutions, from army divisions to corporations are turned into little fiefdoms, run by little Maharajas given free hand to play musharif in their respective institutions. Only to make sure that everybody gives free hand to Musharif, to play his game with whole country.
This country is dead. It is a system of pillage and loot now called Pakistan. Everybody is in hurry to fill the pockets before the party ends.

#3
Majid Ansari
ansarimajid2000@yahoo.co.in


Posts: 64
From: Mumbai
Registered: Jun, 2004


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 7, 2005 8:31 AM
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The most intriguing was for PIA to take the same aircraft on lease from the buyer. So PIA first sold them its duly refurbished planes at throw away price and then leased the same on questionable and highly profitable rates. Can any sane financial expert explain these decisions taken by Kirmani?

This per se cannot be termed as corruption. Old companies with high and costly manpower and old machinery sometimes need to do this asset recosntruction to boost operating profit. Let me try and explain through an analogy:

Suppose my father 50 years back started a taxi business with 10 taxis and 10 drivers. Today when I take over the business I find that the taxis are 50 yrs old and so also the drivers-yet the drivers having taken yearly salary increments, over the last 50 years, are very costly. So, the business is losing money. What do I do? I sell the taxi's to a young upstart company and retire the drivers and this company hires young drivers who take less salary and are more efficient. This company then wet leases me the taxi with driver and maintainance (wet lease) and I make an operating profit (I will because I have fixed clients and routes which is the good will I've developed over the years)

Could I have bought wet lease from any other company? yes, but then I would'nt have been able to sell my old taxis ( old assets)nor be able to retire drivers-nobody would by them at this age and time such old taxis. By promising a wet lease I managed to get rid of old asset as well as old costly empoyees and restructred by business which otherwise was not possible.

When a company loses money and is burdened with old assets and costly employees it normally does this to boost operating margins. Per se its not corruption.It maybe unfair to the employees but corruption no.

#4
Saeed Lodhi
saeed.lodhi@gmail.com


Posts: 23
From: Kuwait
Registered: Mar, 2005


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 7, 2005 9:17 AM
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In Pakistan, we need change from top to bottom .... but when we go looking for a change, it doesnt happen overnight ..... if you Paksitanis want to change Pakistan " Look into the mirror and make the change "

#5
Abdul Jabbar
ajabbarusa@yahoo.com


Posts: 158
From: Connecticut
Registered: Jun, 2003


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 7, 2005 11:58 AM
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Mr Majid Ansari: Your analogy may be good for taxis but you forgot to note that the last time PIA leased three aircraft for 9 million, they ended up paying 15 million. So now when we will lease 10 or 25 aircraft calculate the over payment and then let us know would it have been a good decision to use these fuly refurbished aircraft for the hajj season and save the millions on lease and then sell them later.

#6
Majid Ansari
ansarimajid2000@yahoo.co.in


Posts: 64
From: Mumbai
Registered: Jun, 2004


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 7, 2005 1:19 PM
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You are right jabbar shahab. I just gave you a generic example. Malafide can be done on even the simplest of transactions and these are very complex ones. Its the intention not the method which decides the fate of a transaction.

#7
Qurat-Ul- Ain
wife_ngo@hotmail.com


Posts: 39
From: Islamabad
Registered: Jul, 2004


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 7, 2005 2:23 PM
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When Ch. Ahmad Saeed left the throne I had commented that a friend goes and a friend comes in. Many lower grade Honest workers heads will roll and the untouchable non professional corrupts will flourish more. Who cares for the comfort of patriot overseas Pakistani and the ethnic laborers traveling to and from Gulf and other destinations. Mr. kirmani is only interested to please the echelons of power in Islamabad. The contingent of more then 60 on a reopened route and the expensive Hospitality show for 6 days in NAIROBI which included the most expensive Helicopter Safari for those who will never buy a revenue ticket will be an eye opener when NAB will wake up. The Staff who were gathered in PIA Head Quarter to welcome their new messiah were shocked to see a Stubborn Conqueror walking in safe custody of Heavily Armed Guards with a Pharoanic impression on his face. This was the first impression. Mr. Kirmani has maintained his first impressions and had already retired 750 lower grade employees and now he is planning to send home many more as a EID GIFT to their families. There are many retired personnel from the HASSAS departments in queue to be absorbed in PIA to reap the fruit of the sacrifice of the builders of this airline who have been sent home earlier then their actual retirement age. May God save Pakistan from the people who are LOOTING the country and then Race out, increasing the LOOT RACY rate of our country.

#8
Jawaid Khan
jawaid51@hotmail.com


Posts: 29
From: South Africa
Registered: May, 2005


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 7, 2005 4:58 PM
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Being a Finance executive who worked for PIA for a period of 25 years and then bade goodbye to the National carrier I agree with your contention. But pray please tell me why lease the same Aircrafts at a phenominal cost. the same aircrafts could have been used for the Haj season and then sold , if PIA got a million or more US$ less it was worth it.

#9
Jawaid Khan
jawaid51@hotmail.com


Posts: 29
From: South Africa
Registered: May, 2005


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 7, 2005 5:07 PM
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Well Mr Shahid Islam became MD PIA during the Nawaz Sharif regime. Mr Islam was a very Mediocre officer who was promoted and what he did to PIA by offering the Voluntrary Golden Handshake cannot be compared to any mistake made or would be made by Mr Kirmani, yet he went scot free and is now living in London as a Emperor. where is NAB ?

#10
Mike Khan
mike_khan_ca@yahoo.com


Posts: 29
From: usa
Registered: Jun, 2005


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 7, 2005 8:56 PM
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Well Mr Shahid Islam became MD PIA during the Nawaz Sharif regime. Mr Islam was a very Mediocre officer who was promoted and what he did to PIA by offering the Voluntrary Golden Handshake cannot be compared to any mistake made or would be made by Mr Kirmani, yet he went scot free and is now living in London as a Emperor. where is NAB ?

You are right. SAT & Mr Sehbai how about some "investigative" reports on the Benazir/Zardari and Nawaz Sharif golden years.

#11
Qurat-Ul- Ain
wife_ngo@hotmail.com


Posts: 39
From: Islamabad
Registered: Jul, 2004


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 7, 2005 9:10 PM
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Mr. Jawaid you are right PIA is also part of our Socio Economic set up. Uptill now no corrupt officer of PIA has been NABBED that's why thay distrubute free tkts and lavish Hotel stays with all inclusive on the House. Roosevelt Hotel is white elephant and as per the wizards going in loss then why the crew (60 rooms daily)lay over has been arranged in another Hotel Pennsylvania. Why PIA is paying handsome rent on 8th Avenue 14th floor Booking Office. Cant the local management find an empty floor in Roosevelt hotel for their offices and a corner for their booking office.

#12
mohamed
kw1997@hotmail.com


Posts: 49
From: saudi arabia
Registered: Jun, 2005


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 8, 2005 2:36 AM
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What is this guy Kirmani. Why has he removed the chairs in the metting room. Whats the
logic behind that.

And why has he forbidden the employees to use the front door.

Is he a oron and a sadist?

A very unfortunate nation. Thats all I can comment.

may be they should hire foreigners to run these national
companies.

#13
Bipin Kumar
bipinkumar@rocketmail.com


Posts: 8
Registered: May, 2005


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 8, 2005 2:01 PM
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Whether mr kirmani is a moron or a sadist does not interest me but his picture, with his raised arms in the now familiar dancing pose of the previous chairman makes an interesting study. Obviously SAT has played a trick to superimpose kirmani on saeed but it fits, in what it appears to be and what he is doing as pia chairman.

#14
Jawaid Khan
jawaid51@hotmail.com


Posts: 29
From: South Africa
Registered: May, 2005


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 8, 2005 3:43 PM
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Ms Qurat-Ul-Ain how right you are Madam, During the Voluntrary Golden Handshake scheme PIA lost its cream of officers and Staff who were frustrated during Mr Shahid Islam's tenure as Director Finance and then as MD. Mr Islam thought he was God Almighty and treated his subbordinates like dirt, they were humiliated by sitting outside his office till 1.00 AM to meet him when they were called by him at 5.00 PM, PIA Lost 14 MBA'S and 5 CA'S just from Finance Department.who had atleast another 10 to 12 years left before reaching the age of superannuation. whenever someone becomes Chairman or MD of PIA Behaves like he is God Almighty. God Help PIA and Pakistan

#15
mobashar
mobasharzaman@yahoo.com


Posts: 41
From: sakhiabab
Registered: Jul, 2005


Re: From Shoe Maker to a Gas Guzzler, PIA Remains a Raped Orphan Posted: Oct 8, 2005 4:22 PM
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General Musharraf’s nominee robbed the airlines left right and center, PM Shaukat Aziz’s man is not just stealing the coffin,


This is exactly what is going on , with the financial
know-how of Hired / Rented PM Shaukat Aziz to crimple
the PIA to take all the assets out , to sell all the
Aircrafts , to sell all the Hotels , to sell all the
buildings / propery and to get them back on Lease/rent .

Making money twice , first by selling , second by
leasing / renting .

Finally to buy the PIA for almost nothing or it is
very possible , Rented / Hired PM shaukat Aziz on the
orders of General Musharraf to arrange in such a way ,
that a leasing / renting company may buy the PIA ,in
case PIA fails to pay the Lease / rent back .

General Musharraf + Shaukat Aziz , they both are on
mission to sell all state-owned companies to their
relatives , living broad and to join them after completion of the mission , if not forced to leave earlier .

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