ISLAMABAD (Web Desk) – Despite all tall claims, federal government has utterly failed in its bid to restore Pakistan International Airlines’ (PIA) past magnificence.
Ministry for Finance, while expressing grave concern over rising debt of PIA, has urged authorities concerned to craft comprehensible plan for issuance of payments.
Finance ministry has also asked national flag career’s authorities to release Rs2.20 billion for Saudi Civil Aviation Authority at earliest as later has threatened to put all flight operations for PIA to halt over unpaid dues.
PIA is supposed to make payments worth Rs25 billion in term of loan and interest during period of January 1-2017 to June 30-2017.
National flag career owes a debt of Rs15.16 billion to federal government, Rs4.22 billion to non-government organizations and Rs5.54 billion in terms of interest on loans.
Official documents further revealed that PIA would require Rs3.48 billion in January, Rs5.11 billion in February, Rs3.25 billion in March, Rs3.28 billion in April, Rs6.50 billion in May and Rs3.69 billion in June for issuance of freeze payments.
It may also be noted that overall loan volume of national flag career has surpassed Rs185 billion during Nawaz regime in past three years.