ECC approves Rs17 billion support package for PIA


ISLAMABAD: A Rs17 billion financial support package for the Pakistan International Airlines (PIA) was approved by the Economic Coordination Committee (ECC) in a meeting on Monday.

Furthermore, during the meeting, which was chaired by Finance Minister Asad Umar, decision to allocate 12 Million Cubic Feet Per Day (MMCFD) gas to Sui Northern Gas Pipelines Limited and 10 (MMCFD) gas to Sui Southern Gas Company Limited was also decided.

The country’s national airlines has been facing financial losses for a number of years.

Earlier this year, the PIA informed the Supreme Court that it accumulated Rs356 billion in losses with total assets standing at Rs111 billion against total liabilities of Rs406 billion.