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PIA's flight operation comes to a grinding halt amid row with PSO

08:05 PM | 22 Oct, 2023
PIA
Source: File photo

KARACHI – Flight operations of the Pakistan International Airlines (PIA) have come to a complete halt after suspension of fuel supply to the national airline by the Pakistan State Oil (PSO).

According to the media reports, PIA is facing an acute financial crisis and the PSO has refused to give the national carrier fuel until clearance of the pending dues. 

ARY News quoted a PIA spokesperson as saying that flight operations were ‘completely suspended’ due to suspension of the fuel supply to the airline and 77 flights were cancelled.

The spokesperson said that 52 international and 29 domestic flights were scheduled on Sunday, of which only four flights left for their destinations.

He added that the PIA administration was in touch with the Pakistan State Oil (PSO) as payments could not be made due to bank closure on Sunday.

“The national carrier has paid over Rs220 million to the PSO for the weekend,” the spokesperson said, noting that the scheduled evening flights will operate as soon as today’s credit line is available while alternative connections are being provided to passengers on the affected flights.

Meanwhile, Pakistan State Oil (PSO) – in a statement – rebuffed claims of fuel supply suspension to national carrier and said that it had provided fuel to almost 64 flights since Friday night.

“On Friday evening, PIA paid Rs220 million for fuel for Saturday and Sunday,” the corporation said, adding that a list of 39 flights for fuel supply was also provided by the airline.

According to the corporation, fuel was being provided as per priority flights list provided by PIA. “PIA’s payout limit for Saturday and Sunday is still pending”, it said, noting that the carrier was not providing flight schedules for the remaining amount.

“Fuel worth Rs60 million is still available as the national carrier can still acquire it,” the corporation clarified.

Daily Pakistan Global Web Desk

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Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 25 Feb 2024 forex rates

Pakistani rupee remains stable against US dollar in the open market on February 25, 2024 (Sunday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

Euro currently stands at 302 for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 25 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94

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