VSS scheme: PIA gets Rs9.84bn to pay retiring employees

ISLAMABAD: The federal government has released funds to the tune of Rs9.84 billion for payment of the dues of Pakistan International Airlines (PIA) employees who opted for early retirement under its voluntary separation scheme (VSS).

The Finance Division wrote to the airline management to inform the latter about the release of the funds.

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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.

Over 2,000 employees of PIA opted for the VSS scheme brought in by the national airline to reduce cost.

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The voluntary separation scheme (VSS) 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.