ADDRESSING THE FINANCIAL CRISIS IN GOVERNMENT DEPARTMENTS: LESSONS FROM PAKISTAN INTERNATIONAL AIRLINES

Rashid Mehmood
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Rashid Mehmood: Department of Economics, COMSATS University, Islamabad, Pakistan

Bulletin of Business and Economics (BBE), 2022, vol. 11, issue 4, 15-24

Abstract: This study examines the underlying causes of the financial crisis faced by government departments in Pakistan focusing on factors such as inadequate planning, political interference, corruption, inefficient management, and resource mismanagement. The study highlights the urgent need for immediate corrective measures to overcome these challenges and foster progress. Drawing insights from the case of Pakistan International Airlines (PIA), the study emphasizes the importance of generating sufficient revenue through cost-effective operations. It advocates for gradual rehabilitation initiatives, including the elimination of unnecessary expenses, merit-based hiring practices, and performance-based compensation. Moreover, the study underscores the significance of upholding ethical conduct and removing individuals who violate organizational codes. The study also recommends engaging in constructive negotiations with government officials and proposing strategies such as fare adjustments and route optimization to alleviate financial burdens. These measures can help conserve financial technical and human resources ultimately leading to improved financial stability.

Keywords: Financial crisis; government departments; proper plannin; political interference; corruption; inefficient management; resource wastag; Pakistan International Airlines (PIA) (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:rfh:bbejor:v:11:y:2022:i:4:p:15-24

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