PIA operations in jeopardy amid mounting challenges
Business
PIA likely to suspend usual operations
KARACHI (Dunya News) – The Pakistan International Airlines (PIA) is likely to suspend its usual operations due to unavailability of funds.
In a letter written by the administration to the aviation division, it has been disclosed that Rs7.50 billion loans are immediately required to continue the airlines operations.
The letter said the nominated banks had been lacking interest in extending the loans to the airlines against the government of Pakistan’s guarantees.
It was also informed in the letter the fuel supplies had been cut in Jeddah and Dubai while PSO had also denied the fuel supplies to the PIA.
Read more: Fuel supply disruption affects PIA flights
The letter said the membership of the International Air Transportation Association (IATA) could be suspended any time while the Federal Board of Revenue (FBR) notices to section officer aviation were the additional issues.
A PIA spokesman was contacted to confirm the news, however, he declined to comment.
