The flight operations of Pakistan International Airlines (PIA) likely to be suspended as the Pakistan State Oil (PSO) halted fuel supply to national airline.
The PSO fuel supply was suspended at Multan, Sukkur, and Gilgit, airports for Pakistan International Airline flights.
The suspension of fuel supply from PSO resulted in prolong delay of several Pakistan International Airline flights.
The PIA’s spokesperson has also confirmed the suspension of 14 flights initially scheduled for October 15. As per the agreed payment schedule, PIA has to pay Rs 650 million to Pakistan State Oil.
To continue its flight services, PIA requires a huge amount of Rs 7 billion. In response to this dire financial situation, the national airline has sought assistance from the caretaker government.
For the unversed, the caretaker government of Pakistan has decided to privatize the national aircraft carrier after severe financial loss for the country.
The privatization commission aims to implement measures to restructure the PIA’s finances to improve its financial stability and making it a more appealing for privatization.
However, the matters of PIA’s regulation will remain with civil aviation. The Privatization Commission wants to make institution’s accounts transparent by December 31.