Government Guarantees Approved for Twenty Billion Rupees Loan to be Taken by PIA for Aircraft Engines Overhaul

[Abbas Ali]

Today, Economic Coordination Committee (ECC) meeting chaired by Prime Minister Shahid Khaqan Abbasi approved government guarantees for twenty billion rupees loan to be taken by PIA.

The airline plans to use this money for overhauling aircraft engines.

ECC has directed PIA to utilize the money strictly for work agreed/approved at the meeting i.e. engines overhaul and not for any other purpose.

The ECC was briefed about efforts being made to reduce PIA losses. PIA CEO briefed the meeting about steps being taken for airline's improvement.

Abbas

[Amaad Lone]

How does an airline that has a revenue of 92 billion rupees a year manage to spend 20 billion on getting engines overhauled??

More loans More loans.

No effort to increase revenue.

[Abbas Ali]

Talking at National Incubation Centre (NIC) - nicpakistan.pk - inauguration ceremony in Karachi today, Prime Minister Shahid Khaqan Abbasi said that "we just gave a handout of twenty billion rupees to PIA this morning. I'll be much happier giving twenty billion to incubation centres then giving it to PIA".

Abbas

[Pakistan-1]

Talking at National Incubation Centre (NIC) - nicpakistan.pk - inauguration ceremony in Karachi today, Prime Minister Shahid Khaqan Abbasi said that "we just gave a handout of twenty billion rupees to PIA this morning. I'll be much happier giving twenty billion to incubation centres then giving it to PIA".

Abbas

Was he being sarcastic ? He could have just grounded PIA and used funds elsewhere

[Mansoor Mela]

This os how they mislead the public
They just gave a guarntee for a commercial loan. How is this a handout. Handout is the 600% frequency increase given to Qatar airways in the first year of this government.

[baberblues]

This os how they mislead the public
They just gave a guarntee for a commercial loan. How is this a handout. Handout is the 600% frequency increase given to Qatar airways in the first year of this government.

Remember who paid for the ILS CAT III system at Lahore airport to allow operations in the fog season and reducing disruptions for the hundreds and thousands of people when the goverment couldn't even scrape a penny for it.

[Mansoor Mela]

Qatar did. And they got all these frequecies to PIA's disadvantage and CAA's advantage in return.

[Amaad Lone]

PIA owes $18 million for engines already over hauled and lying overseas.

Will PIA now pay for those engines through the latest 20 billion rupees the government has approved for the airline??

Any idea those engines are for which aircraft??