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Sigh of relief for flyers as PIA accounts unfrozen by FBR

02:28 PM | 1 Dec, 2023
Sigh of relief for flyers as PIA accounts unfrozen by FBR

ISLAMABAD - The Pakistan International Airlines' accounts were unfrozen by the Fed­eral Board of Revenue (FBR) on Thursday after the issue of non-payment of outstanding dues was settled.

The tax body had blocked the bank accounts of the carrier over non-payment but the move was surprisingly taken when the European Union Aviation Safety Agency (EASA) team was visiting Pakistan for a safety audit of the carrier. 

In a notification issued in this regard, the FBR’s deputy commissioner for Inland Revenue stated that the earlier notice issued was withdrawn and the bank accounts of the carrier were detached with immediate effect.

The tax regulator has highlighted that the said de-attachment did not bar the department from pursuing “recovery proceedings” under the relevant laws.

Meanwhile, PIA's spokesperson Abdu­llah Khan confirmed that the FBR has ordered the unfreezing of the airline’s accounts across the country, adding that the nati­onal carrier and FBR’s Large Tax Unit were in constant contact to resolve the issue, Dawn reported.

The national carrier of the country has been facing back-to-back blows in recent weeks. Apart from the tax woes, the carrier also faces challenges in managing fuel supply and Pakistan State Oil had recently threatened to stop the airline’s oil supply if outstanding dues were not settled.

This is not the first time that the fuel supply of the airline is facing issues. A few weeks ago, Pakistan State Oil had actually halted the supply of the fuel resulting in the cancelation or delay of over 300 flights for domestic or international routes.

The federal government has also decided to privatise the loss-making Pakistan International Airlines for which a consultant has also been hired and privatisation minister, Fawad Hassan Fawad has advocated the privatisation of the carrier in the backdrop of the multifaceted challenges being faced by the national carrier.

Daily Pakistan Global Web Desk

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Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 28 Feb 2024

Pakistani currency remains momentum against US dollar in the open market on February 28, 2024 (Wednesday).

US Dollar rate in Pakistan

In the open market, the US dollar moves up and currently hovers at 282 for buying and 282.25 for selling.

Euro currently stands at 303.1 for buying and 306.1 for selling while British Pound rate stands at 351.6 for buying, and 355.1 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.25.

Today’s currency exchange rates in Pakistan - 28 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 282 282.25
Euro EUR 303.1 306.1
UK Pound Sterling GBP 351.6 355.1
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.25 75.05
Australian Dollar AUD 181.1 183.1
Bahrain Dinar BHD 742.91 750.91
Canadian Dollar CAD 207.1 209.1
China Yuan CNY 38.87 39.27
Danish Krone DKK 40.61 41
Hong Kong Dollar HKD 35.75 36.1
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 905.46 914.46
Malaysian Ringgit MYR 58.5 59.1
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.41 26.71
Omani Riyal OMR 725.54 733.54
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207.15 209.15
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317 319.5
Thai Bhat THB 7.76 7.91

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