ISLAMABAD: Pakistan International Airline (PIA) has slashed fares of its special flights up to 30 percent in order to provide relief to stranded Pakistanis in United Arab Emirates (UAE) due to coronavirus pandemic.
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PIA declares 17% loss for six-month period
KARACHI: Pakistan International Airlines (PIA) has announced 17 percent loss for six months period ended June 30, 2019.
According to financial results submitted to Pakistan Stock Exchange (PSX) on Wednesday, the national flag carrier recorded losses of Rs37.89 billion for the six months period ended June 30, 2019 as compared with Rs32.411 billion in the corresponding period of the last year.
Operation losses of the company fell by 60 percent for the period to Rs7.12 billion as compared with the operation losses of Rs17.53 billion for the six months period ended June 30, 2018.
The company absorbed losses of Rs14.59 billion due to depreciation in rupee value during the six months period ended June 30, 2019 as compared with Rs5.83 billion in the corresponding period of the last fiscal year.
The financial costs of the airline increased to Rs15.85 billion during the period under review as compared with Rs8.8 billion in the same period of the last year.
The administrative expenses of the company were flat at Rs3.49 billion for the six months period ended June 30, 2019 as compared with Rs3.25 billion in the same period of the last fiscal year.
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Immigration delays seven international flights at Lahore airport
KARACHI: At least seven international flights on Saturday witnessed delays at Lahore airport due to shortage of staff at immigration counter.
Sources said that international passengers faced problems due to delay in clearance at immigration counters. The sources said that the delays caused due to shortage of staff at the counters.
Long queues of passengers were seen at the immigration counters. The clearance at the immigration counters resulted in delays for many hours in scheduled flights included five national carriers and two other foreign airlines.
These flights were scheduled to carry around 1500 passengers from Lahore airport.
The sources said security checks also caused further delay in these scheduled flights.
These delays resulted around 12 flights altogether at the airport for take off during 11:00 AM to 1:00PM.
PIA spokesman commented that the passengers had faced difficulties due to delays in security checks. However, the spokesman said that all possible facilities had been provided to the passengers.
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PIA stops persons travelling on fake Canadian visas
KARACHI: The task force of Pakistan International Airlines (PIA) on Friday intercepted two passengers from Canada-bound flight following discovery of travelling on fake electronic visa.
The PIA taskforce at Lahore Airport took timely action and denied the passengers travelling through national carrier to Canada. The passengers later handed over to Federal Investigation Agency (FIA) for further legal process.
According to details, when these two passengers reached PIA counter for boarding pass for their journey to Toronto, Canada, the taskforce examined the electronic visa presented by them.
The examination revealed that those visas were fake. A PIA spokesman said that the timely action prevented huge monetary penalty on the national flag carrier.
The spokesman said that in case those visas found fake at Canadian soil then huge penal amount had to be borne by the PIA.
The FIA will further investigate the fake visa scam to find out persons involved in such crime.
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Birds hit two PIA aircraft
KARACHI: At least two aircraft of Pakistan International Airlines (PIA) were damaged in bird-strike incidents which were took place at Karachi Airport, a spokesman said on Monday.
“Today two aircraft were hit by birds once again. Both incidents took place at the Karachi airport,” PIA spokesman Abdullah Khan said.
The spokesman said that flight number PK301 was damaged on the nose and other flight number PK311 on its wing flap by the bird strike.
“These strikes not only pose life threatening danger for passengers but also cause financial losses,” the spokesman added.
The national flag carrier appealed several times for appropriate actions to be taken to remove presence of birds around the airport.
The spokesperson said that the PIA had contacted Civil Aviation Authority (CAA) in this regard, along with running a special social media campaign to raise awareness on the issue.
“Unfortunately, no substantial action has so far been taken,” the spokesperson said and urged everyone to join the airline in addressing the issue as it concerns everyone.
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PIA declares Rs67.32 billion annual loss
KARACHI: Pakistan International Airlines (PIA) – the national flag carrier – has declared after tax loss of Rs67.32 billion for the year ended December 31, 2018.
According to financial statement of the national flag carrier shared with the Pakistan Stock Exchange (PSX) on Friday, the annual loss of the company further ballooned by 32 percent to Rs67.32 billion for the year 2018 as compared with the loss of Rs51 billion in the preceding year.
The net revenue of the airlines increased to Rs103.49 billion for the year under review as compared with Rs90.55 billion in the preceding year, registering an increase of 14.29 percent.
The rupee depreciation has increased the cost of services as fuel cost for the year 2018 increased to Rs43.55 billion as compared with Rs31 billion in the year 2017.
The operation losses of the airlines increased by 31.28 percent to Rs47 billion in the year 2018 when compared with Rs35.81 billion in the preceding year.
The board of directors of PIA approved the financial results in a meeting held on Thursday November 21, 2019.
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PIA sustains loss of Rs106.57 million due to wastage of meals
KARACHI: The administration of Pakistan International Airlines (PIA) has wasted meals of around Rs106.57 million during to poor planning and negligence, revealed by Audit General of Pakistan (AGP) in its report.
An audit report of AGP revealed that during audit of PIA Flight Kitech for the years 2013 to 2015, it was observed that total meals amounting to Rs72.573 million were uplifted against the passengers travelled during the years 2013 to 2015.
Similarly, the management of PIA, Lahore Station did not properly control the meal wastage at Lahore station and there was no proper monitoring system of meal-uplift, due to which excess meals were uplifted amounting to Rs34 million. “Thus, PIA sustained a loss of Rs106.57 million,” the audit report said.
Audit is of the view that loss was incurred due to poor planning and negligence.
It further said that the matter was reported to the management in April 2016 and in November 2018 but no reply was received. The departmental audit committee meeting was not convened despite requests by the audit.
The AGP recommended the PIA for fixing responsibility on the persons at fault.
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PIA’s empty flights cause Rs184 million losses
KARACHI: The Auditor General of Pakistan (AGP) has detected Rs184 million losses due mismanagement by Pakistan International Airlines (PIA) for carrying empty flights.
The AGP in its audit report for PIA Islamabad Office for the year 2016/2016, observed that 46 flights were operated without any passenger, resulting loss of Rs184 million. These flights are other than 36 flights for Hajj and Umrah.
The AGP said that General Manager, Network and Schedule Planning, PG-X(Reporting to Director Marketing) was responsible to supervise and monitor proper designing of long term and short term operating plans; and to focus on network management and evaluation of multiple scenario of schedule changes.
The audit of the view that operation of flight without passenger shows lack of proper planning and control on the part of the management.
“The matter was report to the management in October, 2018 but no reply was received. DAC meeting was not convened despite requests by the audit.”
The AGP recommended to investigate the matter with a view to fix responsibility on the persons at fault.
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PIA constitutes five-member committee to review fake degree cases
KARACHI: A five-member committee has been constituted by the management of Pakistan International Airlines (PIA) to review, examine and recommend action in the fake degrees cases.
Air Vice Marshal Noor Abbas, advisor to the Chief Executive Office (CEO) will be chairman of this committee, sources said on Friday. Other four members are included: Agha Dur Muhammad Tarique, GM Legal Services; Col. Zahid Hamid, Chief Instructor PTC; Amir Bashir, GM Flight Services; and Rizwan Ahmed Awan.
The PIA management formed this committee to review the fake degrees cases and the penalties awarded.
PIA sources said that the review committee had been formed with the approval of the CEO.
The PIA management granted dismissal from service to over 400 employees for submitting fake educational degrees. However, around 200 employees moved the superior courts seeking relief against the decision. The court referred back the case to PIA management to review the cases as per law.
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ECC bans export of wheat to control domestic prices
ISLAMABAD: Economic Coordination Committee of the Cabinet (ECC) on Wednesday decided to impose ban on export of wheat and related products in order to control prices in the local market.
Adviser to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh, chaired the meeting of the ECC.
A report on the wheat situation in the country was presented in the ECC by Ministry of National Food Security and Research.
It was briefed during the meeting that adequate stocks of wheat are available in the country to cater for the needs of the population.
It was also highlighted that the procured quantity of wheat during this year is 33% less than the procured quantities of wheat during the corresponding periods of last year.
“The recent hike in prices of wheat and wheat flour is also a point of concern. The ECC decided to impose a ban on export of wheat/wheat flour and also asked that a meeting of National Price Monitoring Committee may be convened to suggest measures to control the price hike trend of ‘Roti’ and other wheat products in the local market with the cooperation of the provincial governments,” said a statement.
The ECC also approved National Fertilizer Marketing Limited (NFML) to fix the Dealer Transfer Price (DTP) of 50 kg imported Urea Bag at Rs.1800 which is Rs.166 less than the prevailing average market price of Sona Urea i.e. Rs.1966 per 50 kg bag.
The difference in Urea import price and approved dealer transfer price for NFML dealers has been estimated at Rs.937.92 million; NFML has also been directed to ensure enforcement of this price through coordination with provincial governments.
The ECC allowed PIA Corporation Limited to make a re-appropriation in its already approved budget of Rs.24 billion for the upgradation of in-flight entertainment (IFE) system of its fleet for 8 Boeing-777 aircrafts. The project will cost Rs.700 million.
It was also briefed during the meeting that the measures will improve the occupancy of the airline to 80 per cent from the current level of 70 per cent.
The ECC endorsed the decision of the Governing Council of Pakistan Bureau of Statistics to change the base of price statistics from 2007-08 to 2015-16.
The new base 2015-16 of price statistics has the following features:
Inclusion of rural market.
Introduction of population weight based on recent Population Censes 2017.
Computation of indices based on Weighted Geometric Mean.
Introduction of consumption quintiles instead of income quintiles.
Introduction of consumer weighted approach to compute gas prices for combined income group.
Introduction of GST, other taxes Fuel Price Adjustment to compute electricity tariffs using consumer weighted approach.
It was also decided that for the purpose of comparative analysis, the old series of 2007-08 will continue to be published for another year along with the new series of 2015-16.
On the summary moved by Ministry of Commerce and Textile, it was decided that the scrap slag, ash and residues containing metals, arsenic or their compounds (containing mainly Aluminum under PCT 2620.4000) may be moved from Appendix-A (Banned Items) to Appendix-B (Restricted Items) of the Import Policy Order, 2016.
However, in order to forestall the chances of import of hazardous waste, the import may be subject to the following conditions:
(i) Importable only by industrial consumer having recycling facilities, subject to NOC from Ministry of Climate Change and duly certified by provincial Environmental Protection Agency (Federal EPA, in case of Islamabad Capital Territory).
(ii) Provision of a pre-shipment Inspection Certificate and consent of Focal Point of Basel Convention from the country of export to the effect that the waste/scrap is non-hazardous as defined in the Basel Convention.
(iii) The imported consignments of the registered recycling plants shall be cleared from seaport only.
The ECC also considered and approved the notification of Minimum Indicative Prices (MIP) of tobacco for year 2019-20.
As per section 8 of the Pakistan Tobacco Board Ordinance 1968, the MIP for different grades of various types of tobacco are to be notified by the Federal Government.
The following prices were suggested for notification: S.No. TYPES OF TOBACCO MINIMUM INDICATIVE PRICE PER KG FOR 2019-20 CROP 1. FCV Tobacco (Plain) Rs.190.63 2. FCV Tobacco (Sub-Mountainous) Rs.218.77 3. WP Tobacco Rs.82.85 4. Burley Tobacco Rs.150.54 5. DAC Tobacco Rs.94.76.
The ECC also allowed that new PCT codes, as created in the Pakistan Customs Tariff through the Finance Act, 2019, may also be incorporated in SRO 693(I)/2006 dated 01.07.2006 so that levy of additional customs duty collected on those parts of Sport Utility Vehicles (SUVs) of engine capacities 1001cc to 1500cc and 1501cc to 1800cc which have been localized, may be appropriately accounted for under separate PCT codes.
The report on National Poverty Graduation Programme of US $ 82.60 million was also submitted for compliance of the ECC by the Secretary, Economic Affairs Division.
Among others, the meeting was attended by Minister for National Food Security & Research, Sahibzada Muhammad Mehboob Sultan; Minister for Planning, Development& Reform, Makhdoom Khusro Bukhtiar, Minister for Privatization, Muhammadmian Soomro, Minister for Railways, Sheikh Rashid Ahmed, Adviser to PM on Commerce, Textile, Industry & Production and Investment, Abdul Razak Dawood; Adviser on Institutional Reforms and Austerity, Dr. Ishrat Hussain; SAPM on Petroleum, Nadeem Babar; Governor State Bank of Pakistan, Reza Baqir and Chairman, Board of Investment, Zubair Gilani.