Chief Executive Officer (CEO) of Pakistan International Airlines (PIA) Air Marshal (retd) Arshad Malik has declined a lucrative salary package offered to him by the airline’s board of directors.
The sources have affirmed that the Air Marshal (retd) Arshad Malik was offered Rs1.9 million monthly salary. However, he opted for the salary package he had been receiving while working on deputation.
The CEO Arshad Malik had already his salary gashed by 25% given coronavirus impact on the airline.
Moreover, PIA chief said that:
“In the current circumstances where other employees of PIA are facing salary cuts to help the airline to ride out choppy waters. I can’t receive a lucrative salary package.”
The decision of the Board of Directors
When Arshad refused to accept the lucrative salary package exceeding Rs. 1.9 million offered to him by the PIA Board of Directors. They have decided to continue with the salary package that he was drawing on his deputation from the Air Force
Air Marshal Arshad M. Malik retired from the Pakistan Air Force last month and was re-appointed by the federal cabinet as CEO of the national flag carrier on a contractual basis.
Although, from the salaries offered to his last two predecessors, Arshad Malik was offered a consolidated salary package of Rs 1.9 million. However, he turned it down as a good samaritan and decided to continue with his austerity measures enforced across the airline network.
His stance was that he cannot accept the salary raise when all other employees are facing salary cuts. Also, the airline is struggling due to a severe cash flow situation.
Chief level officers, especially the ones hired on contracts and pilots within the company have been drawing well over Rs. 2.0 million a month. Hence PIACL Board had recommended this package as CEOs are supposedly earning the highest salary in any company. Moreover, it will be quite unbalanced that a junior officer is drawing a salary three times more than the top man in the company.
Hence the decline in offer seems unprecedented. When contacted, PIA Spokesperson declined to comment on the matter he stated:
“It would be greater if Arshad Malik answers all the questions as this is his personal decision.”
Share your thoughts in the comments!