$1.1 million loss: Pakistan International Airlines operated 82 flights without passengers
Pakistan’s national flag carrier, Pakistan International Airlines (PIA), operated a large number of flights from Islamabad AIRPORT TERMINAL without the passengers for just two years, local media reports.
According to Geo News TV, the airline operated 46 regular flights and 36 Hajj pilgrim flights between 2016 and 2017 without passengers up to speed. Already cash-strapped (because of the unsteady national economy) airline suffered around 180 million Pakistan rupees (over $1.1 million) in losses.
The figures were apparently revealed within an internal audit report seen by the news headlines outlet. The report also stated that no internal inquiry premiered concerning the flights regardless of the administration being conscious of the issue.
The known reasons for operating empty flights, in addition to for the administration ignoring the problem, haven’t been revealed. The airline would be to issue the official statement yet.
The report comes as Pakistan’s economy faces rising inflation, current account deficits, and downward pressure on its currency. So that they can deal with the problem, Pakistan’s Central Bank was forced to improve rates nine times because the start of 2018. Pakistan secured bailouts also, including from the International Monetary Fund, july to help keep the economy afloat in. An IMF team found its way to Islamabad earlier this week to examine the country’s progress on reforms decided on within the bailout package.
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Pakistan also faces the chance to be blacklisted by the Paris-based anti-money laundering watchdog Financial Action Task Force (FATF) for alleged terrorist financing. The FATF placed Pakistan on its ‘grey list’ year of countries with inadequate controls to avoid terrorist funding last. The rating could damage the country’s investment aspirations or attract sanctions from international organizations if it’s downgraded further even. Islamabad has denied any reference to militant groups repeatedly.