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CAA suspends flight operations of five Pakistani companies over license dispute

11:21 PM | 27 Jan, 2023
CAA suspends flight operations of five Pakistani companies over license dispute
Source: Pixabay

KARACHI - The Civil Aviation Authority (CAA) has suspended the operation of five aviation companies for their failure to renew the licenses on time.

The suspension affected the flight operations of two companies based in Lahore while one each from Rawalpindi, Karachi and Peshawar. The Aero Club Karachi, Airborne Aviation Lahore, Selected Aviation Lahore, Rawalpindi Flying Club and Peshawar Flying Club are the ones which failed to renew their annual licenses on time. 

The suspension has barred the trainer aircraft of these companies to go airborne, denting a huge financial blow to them on daily basis. Sources close to the developments opine that the issue erupted due to inclusion of KIBOR (Karachi inter-bank offered rate) in bills.

The spokesperson for CAA confirmed that the operations would be resumed once the licenses are renewed. He added that the decision on KIBOR would be made during the Board of Directors meeting, Express News reported.  

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 26 Feb 2024

Pakistani currency remains stable against US dollar in the open market on February 26, 2024 (Monday).

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 - 26 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 2.1 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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