PIA receives supplementary grant of $14 million from Pakistan government

Cash-strapped Pakistan International Airlines (PIA) has received another lease of life with a supplementary grant of $14 million from the Pakistan government. With this grant the airline aims to pay off the interest on legacy loans and overcome cash-flow issues. Mohammad Ishaq Dar, the Federal Minister for Finance and Revenue made the announcement during the Economic Coordination Committee (ECC) of the Pakistan Cabinet. Prior to this, the government had already allocated $52.5 million of loans to PIA in 2022-23 budget. The airline had requested an addition loan of $157.1 million which was rejected by the ECC. Later the ECC approved