KARACHI: The Economic Coordination Committee (ECC) has accorded approval for additional guarantees to Pakistan International Airlines (PIA) of Rs 5.6 billion for repair and maintenance of engines and acquisition of related spare parts for operationalizing grounded planes.
The step would strengthen PIA’s route rationalization initiatives and add to revenue generation of the national flag carrier, Press Information Department PID reported.
The ECC meeting was chaired by Finance Minister Asad Umar on Tuesday.
Ministry of Maritime Affairs briefed the meeting about various concessions granted to the Gwadar Port and Gwadar Free Zone.
ECC directed that Board of Investemnt (BoI), Ministry of Planning, Ministry of Maritime Affairs, Law Division and FBR to review the proposals and revert to the Committee.