The Pakistani Ministry of Finance has encouraged the experts at Pakistan International Airlines (PIA) to draft an intelligible arrangement for the issuance of installments while communicating genuine worry over the rising obligation of PIA.
PIA owes the government an obligation of Rs. 15.16 billion, Rs 4.22 billion to non-government associations and Rs. 5.54 billion as far as enthusiasm on advances. The arrival of around Rs. 2.20 billion for the Saudi Civil Aviation Authority has likewise been worried upon by the service. It must be noticed that the Saudi Civil Aviation Authority has debilitated that all operations by PIA will be ceased until the unpaid contribution are cleared.
Official archives have uncovered that PIA still requires Rs. 3.48 billion in January, Rs. 5.11 billion in February, Rs. 3.25 billion in March, Rs. 3.28 billion in April, Rs. 6.50 billion in May and Rs. 3.69 billion in June for the issuance of stop installments.
Installments worth Rs 25 billion as far as advance and intrigue are relied upon to be made by PIA amid the day and age of first January 2017 to 30th June 2017.
The risk by the Saudi Civil Aviation Authority comes as the last cautioning to PIA before they proceed and totally stop all operations in the KSA. It ought to likewise be noticed that general credit volume of PIA has outperformed Rs. 185 billion amid PM Nawaz’s administration in the previous years.