- Web Desk
- 2 Hours ago
PSO enhances PIA’s credit limit: 59 flights cancelled
- Web Desk
- Oct 28, 2023
ISLAMABAD: Despite the successful negotiations between the national flag carrier (PIA) and the Pakistan State Oil (PSO) on fuel supply 59 local and international flights were cancelled on Saturday.
The PSO agreed to enhance the credit limit of the crisis-hit national flag carrier to Rs500 million.
Yesterday, the Economic Coordination Committee (ECC) had also approved Rs8 billion bailout package for it.
Besides the daily payment of Rs100 million by the national airlines, the PSO will continue supplying fuel to other PIA flights.
The PSO officials have confirmed that the company has increased the credit limit of the PIA.
According to the agreement, the PIA will provide a list of flights to the PSO and the oil company will provide fuel to these planes.
It is expected that after about two weeks, PIA’s domestic operations will start showing signs of improvement and its revenue will also improve.
The PIA has already used a credit line of Rs15 billion.
According to the PSO authorities, the credit line was approved in the new negotiations to revive the operations of the PIA.
The situation has improved after the approval of Rs8 billion bailout package by the ECC for the PIA.
Meanwhile 59 local and international flights on Saturday were canceled while only eight international flights have been provided with fuel.
According to PIA flight schedule, 17 canceled flights from Karachi on Saturday include Islamabad PK300, PK301, PK309, PK368, PK369 and PK370, Lahore PK302, PK303 and PK307, Quetta PK310 and 321 Dubai PK 213 and PK314, Sukkur PK536 and PK537 Turbat PK501 and PK502.
Lahore to Sharjah PK185 and PK186, Dubai PK203 and PK204, Jeddah PK731 and PK839, Baku PK159, Dammam PK248, Sialkot-Sharjah PK209 and 210 and Dubai PK180 have been cancelled.
Most of the 18 canceled flights from Islamabad are for Dubai PK233, PK234, PK211 and PK312, Jeddah PK760, Gilgit PK601, PK602, PK605 and PK606, Skardu PK451 and PK452, Quetta PK325 and PK326, Turbat PK509 and PK510, Muscat PK291, Al Qasim PK168 and Abu Dhabi PK262.
Peshawar to Abu Dhabi flights PK217 and 218 Riyadh PK727and PK728, Dubai PK283 and PK284 Al-Ain PK255 and PK256 and Doha PK285 have been cancelled.
Multan to Al-Qasim flight PK169, Dubai PK221 and PK222 and Muscat PK172 are also included in the list of canceled flights.