‘World Bank willing to invest in PIA’

ISLAMABAD: Pakistan International Airlines (PIA) Chief Executive Officer (CEO) Air Marshal Arshad Malik said on Monday that the World Bank was willing to invest in PIA.

In a meeting of the airline’s board of directors, Arshad Malik said the PIA administration the has managed to drop down the losses of the national flag-carrier, adding that two more aircraft have been added to the PIA’s fleet.

“The World Bank has shown its consent to invest in the PIA, while the airline has already signed several pacts of collaboration with different banks,” he stated.

During the meeting, Arshad Malik was briefed by the officials about the reforms process in the airline. The meeting also approved the audit report and accounts of the airline for 2018.

Earlier, PIA and other private airlines had jacked up their fares for their domestic passengers.

After the revision of fares, a one-way trip from Karachi to Lahore-Islamabad costs Rs35,000, while fares of Lahore to Karachi-Quetta were increased by Rs10,000 and Rs15,000, respectively.

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