KARACHI: Pakistan International Airlines (PIA) and Pakistan State Oil (PSO) have come to a crucial agreement aimed at addressing the ongoing fuel shortage crisis faced by the national carrier.
This understanding is expected to bring relief to the state aviation sector in Pakistan. According to the PIA officials, the supply of aviation fuel is set to gradually increase in the coming days.
This will result in a return to normal flight schedules that had been disrupted due to fuel shortage. The official further said that PSO’s top management played a key role in facilitating this agreement.
The state oil firm has exhibited its support by extending PIA’s credit limit by an additional Rs5 billion. This financial support is seen as a crucial step in strengthening the PIA operations. PSO has assured a daily supply of fuel worth Rs10 billion to keep flights operational, according to the reports.
Previously, the Economic Coordination Committee (ECC) of the Cabinet had approved Rs8 billion bailout package for PIA. PIA has already utilized a Rs15 billion credit line, but this latest agreement signifies a renewed commitment to restoring PIA operations.
