A dealer counts US dollars at a money exchange market in Karachi, Pakistan on March 2, 2023. — AFP Deposit time for loan completes on March 23. China expected to rollover loan upon request. UAE also deferred loan deposits worth $2bn. After requesting the United Arab Emirates (UAE) to rollover $2 billion in loan for … Read more
Pakistan International Airlines (PIA) has urgently appealed to the government for financial assistance, seeking relaxation from the State Bank of Pakistan (SBP) to arrange a loan of Rs15 billion from commercial banks. Facing operational challenges and potential risks of suspension, the Civil Aviation Authority (CAA) has already granted a Rs5 billion facility to keep … Read more
Finance ministry has so far refused to rescue the PIA and is reluctant to take any firm decision All PIA flights to Europe have been temporarily cancelled for a period of six months. — AFP/File CAA grants Rs5bn billion facility to keep PIA afloat. Finance ministry refuses to provide any guarantees. Aviation ministry makes last-ditch … Read more