Pakistan International Airlines has partially resumed its flight operation after disbursing fuel payments to the Pakistan State Oil on Friday.
The national flag carrier operated a limited number of flights after disbursing Rs100 million to the PSO in terms of fuel payments.
The PIA administration made the fuel payments for eight international flights. The airline paid Rs70 million to PSO on Thursday.
In a relevant development Friday, cash-strapped PIA got the caretaker government’s nod to acquire a fresh loan of Rs20 billion from commercial banks. Sources said the finance ministry has ‘directed’ commercial banks to release fresh loans to Pakistan International Airlines, while the current govt’s debt is also to be ‘rescheduled’ for six months.
They further say the National Bank of Pakistan, Bank of Punjab and six other commercial banks will give fresh loans to the PIA on the guarantee.
The national flag carrier has already taken a loan worth Rs260 billion from commercial banks on the government’s guarantee.
