ISLAMABAD: PIA, with cumulative losses of Rs750 billion, is finally on its death bed. What else better reflects our approach than the fact that an ex-bureaucrat has been tasked to supervise its last rites as the privatisation minister. This is despite the fact that it has reached this stage mostly because of the non-professional … 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