The Federal Board of Revenue (FBR) has frozen all bank accounts of cash-strapped Pakistan International Airlines (PIA) over Rs4.50 billion outstanding payments.
According to sources within the tax collection body, the national airline has not paid the federal excise duty (FED) that it collected on tickets over the past two years.
They said the FBR froze as many as 50 accounts of the national flag carrier across the country and recovered an amount of Rs465 million against the total outstanding payment of Rs4.5 billion, they revealed. The sources said the accounts would remain frozen until the entire outstanding amount is recovered.
In Sept last year, the Civil Aviation Authority (CAA) had restrained Pakistan International Airlines (PIA) from collecting embarkation, security and airport charges for international, as well as domestic flights over non-payment of dues.—INP
