Pakistan Economic Crisis: Pakistan International Airlines (PIA) has had to cancel 48 flights, comprising both domestic and international routes, due to a severe fuel shortage. PIA’s spokesperson cited limited fuel supply and operational issues as the reasons for the cancellations.
Of the affected flights, 13 were domestic and 11 international, while 12 others faced delays. Passengers were rebooked on alternative flights, and travelers were advised to confirm their flight status through PIA customer care, offices, or their travel agents before heading to the airport.
The fuel shortage crisis was triggered by the state-owned Pakistan State Oil (PSO) suspending fuel supply to PIA over unpaid dues. PIA, already teetering on the edge of collapse and moving toward privatization due to mounting debts, faces an uncertain future.
PIA requires Rs 100 million daily:
The situation was worsened by the Pakistani government’s refusal to provide Rs 23 billion in support for operational expenses, despite PIA’s request. To secure fuel from PSO, PIA requires Rs 100 million daily, but with PSO insisting on advance cash payments, the airline struggles to meet this obligation, raising concerns about potential future flight cancellations.
This development unfolds amidst Pakistan’s dire economic crisis and political instability, with the country grappling with a staggering 21.3 percent inflation rate. The Pakistani rupee has depreciated by nearly half against the US dollar in the past year, and foreign exchange reserves are critically low, standing at about $10 billion.
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