Pakistan International Airlines under Rs.1.1 trillion debt
Pakistan International Airlines (PIA), the country's national carrier, is under a debt of Rs.1.11 trillion, an official said.
PIA managing director Ijaz Haroon told the subordinate committee of the parliamentary Standing Committee on Defence here that so far PIA is under a debt of Rs1.11 trillion with a holding of Rs.16 billion only in the form of assets, the News International reported Tuesday.
The meeting was held to review the five-year revival plan for PIA.
Haroon said that PIA had a deficit of Rs.41.7 million in the last two years.
Regarding the revival plan, Haroon told the committee that the company plans to purchase 16 new planes.
He added that they had already started to cut operational expense as well as the repair and maintenance.
The top official said that the government should review its open skies policy that was formulated in 1992. He said that due to the policy, which allows airlines from central Asian countries to take passengers on board from Pakistan, was affecting PIA business.
PIA, which was started in 1955, today operates a range of aircraft, ranging from Boeing 777 to the Airbus A-310.
Enter your email to get our daily newsletter in your inbox
- Abbott, a Republican, has faced sustained criticism from his party in America’s biggest red state over the statewide mask mandate.
- The Taronga Conservation Society Australia and the New South Wales State government said they would build the specialist facility at a zoo 391 km from Sydney, by 2022, which could house up to 65 platypuses.
- A 63-year-old nursing home patient with cerebrovascular disease, developed symptoms including high fever, after being given the vaccine four days ago, Korea Disease Control and Prevention Agency (KDCA) Director Jeong Eun-kyeong told a briefing.
- Chaiamorn is charged under a strict lese majeste law that carries a penalty of up to 15 years in prison if found guilty, as well as arson and trespassing on government property.
- With the current infection rates, the capital area has seen a “small” increase in the number of people “so seriously ill that they are in need of hospital care,” Johan Bratt, the acting health and medical care director for the Stockholm region, said in a statement on Wednesday.
- The global watchdog had in October last year asked Pakistan to deliver on all 27 points by this February. However, Islamabad failed in this regard.
- It was the second rocket attack in Iraq this month and came two days before Pope Francis is due to visit the country.