Pakistan International Airlines (PIA) and Pakistan State Oil (PSO) have forged a vital agreement to address the ongoing fuel shortage predicament faced by the national carrier.
This accord is set to provide much-needed relief to the state aviation sector in Pakistan. PIA officials anticipate a gradual increase in the supply of aviation fuel in the days to come, consequently reinstating normal flight schedules that had been disrupted due to the fuel shortage. The key role played by PSO’s top management in facilitating this agreement was highlighted.
In a show of support, the state oil firm has extended PIA’s credit limit by an additional Rs5 billion, marking a significant step in bolstering PIA’s operations. As per reports, PSO has committed to a daily fuel supply worth Rs10 billion to ensure the continuous operation of flights.
Previously, the Economic Coordination Committee (ECC) of the Cabinet had approved an Rs8 billion bailout package for PIA. While PIA had already utilized a Rs15 billion credit line, this latest agreement underscores a renewed commitment to the restoration of PIA’s operational capabilities.