October 30, 2023 (MLN): Pakistan State Oil (PSO) has supplied fuel for twenty-two flights operated by Pakistan International Airlines Corporation (PIAC) today.
Most of the flights fueled today by PSO are international ones.
To recall, last week, PIA resumed some of the flights after making partial payments to PSO for the supply of jet fuel.
PIA paid Rs60 million to PSO on Wednesday, which enabled the oil company to release fuel for eight flights.
Additionally, PIA paid another Rs70m to PSO, which agreed to provide fuel for nine flights on Thursday.
PIAC has been facing a severe financial crisis due to its mounting debt. The national carrier has a substantial outstanding debt to PSO, which is a crucial factor in maintaining a steady supply of jet fuel for its operations.
According to sources, PSO supplied fuel worth Rs3.45 billion to PIA from October 1 to October 18, 2023.
However, PIA failed to settle its dues, which prompted PSO to suspend the fuel supply, which, in turn, resulted in the cancelation of several PIA flights.
It is important to mention that the Economic Coordination Committee (ECC) on Friday approved the proposal for bridge financing worth Rs8 billion for Pakistan International Airlines Corporation (PIAC) through the Civil Aviation Authority's (CAA) resources.
Copyright Mettis Link News
Posted on:2023-10-30T15:15:21+05:00
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