Business
FBR unfreezes PIA bank accounts
A representative for FBR stated that PIA will comply with the arrangement and pay Rs2.5 billion this month.
Karachi: The bank accounts of Pakistan International Airlines (PIA) were unblocked after matters between the national flag carrier and the Federal Board of Revenue (FBR) over non-payment of dues were settled on Wednesday.
The national flag carrier provided written assurance to the tax collection organization that all outstanding debts would be paid, and the bank accounts were unblocked as a result.
A representative for FBR stated that PIA will comply with the arrangement and pay Rs2.5 billion this month.
Pakistan International Airlines' (PIA) bank accounts were frozen by the Federal Board of Revenue (FBR) due to the non-payment of almost Rs 8 billion in overdue taxes.
According to the FBR, the PIA committed to pay Rs 2 billion in Federal Excise Duty obligations due in August but violated its word.
It is important to note that Pakistan International Airlines (PIA) is currently experiencing a dire financial crisis, raising questions about its ability to continue operating airplanes despite growing debt.
Earlier yesterday, the number of Pakistan International Airlines (PIA) flights were cancelled on Tuesday due shortage of funds.
According to sources with knowledge of the incident, several domestic flights to and from Karachi were canceled because the national flag airline neglected to pay Pakistan State Oil (PSO) for fuel supply.
Furthermore, One-way domestic flights from Karachi to Faisalabad, Islamabad, and Lahore as well as the Karachi-Muscat flight have been canceled, according to reports.
Flights from Karachi to Turbat, Bahawalpur, and Sukkur have also been canceled, according Pakistani airline sources.