PIA begins distributing cheques to VSS beneficiaries with Rs9.8b govt aid
KARACHI: In its Voluntary Separation Scheme (VSS) announced sometime last year, the Pakistan International Airlines (PIA) has on Friday begun releasing cheques to about two thousand employees who have signed up to this plan intended for mutual interest, ARY News reported.
The beneficiaries will receive the payments, for voluntarily relinquishing their posts, under the head of Provident Fund along with the due arrears binding on the national flag carrier.
According to the development took place earlier yesterday, the flag carrier received Rs9.84 billion from the government which have been deposited in the National Bank account and the cheques have been thus begun to be released to the employees.
It was reported earlier yesterday, the federal government has released funds to the tune of Rs9.84 billion for payment of the dues of PIA employees who opted for early retirement under its VSS plan.
The Finance Division wrote to the airline management to inform the latter about the release of the funds.
The amount has been 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.