PIA flight operations at risk after FBR freezes bank accounts

KARACHI: Pakistan International Airlines (PIA) is grappling with a severe financial crisis, raising concerns about its ability to sustain air operations amidst mounting debts, ARY News reported on Thursday.

The national airline has found itself unable to make necessary payments as Federal Investigation Bureau (FBR) froze the bank accounts of the national flag carrier.

One of the critical outstanding payments that have become a matter of immediate concern is the hefty sum of more than Rs 24 billion owed to Pakistan State Oil (PSO).

The last payment made by PIA to PSO was a modest Rs 156 million on July 25. However, this payment itself was not without delays, arriving after several days of the scheduled due date.

In an attempt to address the situation and assure PSO of its commitment to meeting obligations, PIA’s Chief Financial Officer has pledged to make the payment today.