KARACHI: Pakistan International Airlines (PIA) on Wednesday announced a reduction of up to 50 percent in its fares for domestic and major international flights and that of Umrah, with immediate effect. The decision to this effect was taken to stabilise unrealistic hike in fares and to facilitate its valued customers, PIA’ spokesman Danyal Gilani said in a statement issued on Wednesday. He said fares on Karachi-Islamabad-Karachi and Karachi-Lahore-Karachi route would now be starting from Rs 7,500 while return tickets for Umrah would start from Rs 54,500 for passengers from Lahore/Islamabad and Rs 44,500 for passengers from Karachi. The reduction in fares comes a day after the Joint action Committee (JAC) of Pakistan International Airlines employees announced the end of its strike against the proposed privatisation of the national flag carrier and asked employees to resume flight operations across the country with immediate effect. Private carriers had allegedly hiked their fares during the strike by the national carrier’s employees. The Competition Commission of Pakistan has taken notice of the fare hike. National Assembly had on January 21 passed a bill to convert the national flag carrier into a public limited company. Under the bill, Pakistan International Airlines Corporation (PIAC) is to be converted into a public limited company as Pakistan International Airlines Company Limited (PIACL). The government plans to split the ailing PIA into two companies and sell the control of its core business to a global airline. Meanwhile, a delegation of PIA Joint Action Committee led by its chairman, Sohail Baloch Wednesday met Punjab Chief Minister Shahbaz Sharif to discuss matters pertaining to the issues of PIA employees.