Pakistan

Cash-strapped PIA seeks PM’s help for loans payment

KARACHI: Pakistan International Airline (PIA) has decided to approach Prime Minister Nawaz Sharif following looming threat of aggravation in airliner’s financial crisis.

According to sources, the chairman PIA is contacting top government functionaries to convey message to the prime minister on the PIA financial condition.

He has also sought time for meeting with the premier.

Chairman PIA will brief the prime minister on current crisis facing the national airliner and moot some suggestions for overhauling.

Sources informed that PIA owed at least Rs 160 billion in loans that are to be paid back. But the airliner’s empty exchequer has become a source of extreme worry for the high-ups.

PIA also owes huge amount to Civil Aviation Authority, fuel companies and several foreign airports.

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