Cash Support to be Rolled Out to PIA Feeling COVID-19 Crunch

[Abbas Ali]

Economic Coordination Committee (ECC) has decided to approve cash support for PIA experiencing COVID-19 cash crunch.

Abbas

[Amaad Lone]

covid 19 or not, there is always BILLIONS and BILLIONS for the 15000 emplyees for PIA.

But there is no money for 25 million children in Pakistan who do not go to school.

[Abbas Ali]

Economic Coordination Committee (ECC) approved about 44 billion rupees additional financial support to PIA. This includes USD 130 million (about PKR 22 billion) financial arrangement to meet its immediate liabilities.

The committee also enhanced PIA's guarantee limit by PKR 22 billion to raise financing from commercial banks.

ECC approved a summary tabled by the Aviation Division for the Government of Pakistan cash support required by PIA. The airline has experienced significant fall in revenues and cash flows due to COVID-19 pandemic, travel bans and lockdowns imposed by various countries.

Abbas