PIA pays Rs100m to PSO
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The Pakistan International Airline (PIA) has made today's payment of Rs100 million to the Pakistan State Oil (PSO).
According to the 24NewsHD TV channel Monday, the PIA cleared the dues in three instalments.
The national airline has to pay Rs100 million per day for day-to-day operations under the agreement.
The PIA also gave the list of flights in need of fuel with payment.
The national flag carrier has been facing a fuel crisis due to outstanding arrears, making it cancel many flights.
In September, the PIA sought a Rs22.9 billion emergency bailout, which the Economic Coordination Committee (ECC) rejected. The ECC also turned down PIA’s request to defer monthly payments of Rs1.3 billion to FBR for Federal excise duty (FED) and Rs0.7 billion to the Civil Aviation Authority (CAA) for embarking charges.
The crisis brought daily bookings to an all-time low. However, a spokesperson said the issue would be resolved soon.