PIA secures Rs17bn loan to restore flight operations, pay salaries
Pakistan
The national carrier has secured bank loan for its survival
ISLAMABAD (Web Desk) - The Pakistan International Airlines (PIA) has finally received a cash injection of Rs17 billion for its survival, Dunya News has learnt.
The cash-strapped national carrier managed to get a bank loan, after which its administrative affairs are said to be running smoothly.
According to PIA spokesman Abdullah Hafeez Khan, the airlines secured Rs17 billion bank loan following which salaries of employees have been paid and the flight operation are going normal.
The spokesman earlier had claimed that the airline was releasing funds and fulfilling its national and international obligations.
Payments will also be reportedly made to fuel companies and spare parts of the aircraft for immediate repair will also be purchased.
The privatisation of the national carrier is under serious debate at the government level nowadays after reported loss of billions of rupees on monthly basis.
