KARACHI: The PIA has more than sufficient funds in its different bank accounts both in Pakistan and foreign exchange accounts at airline's stations abroad.
This was claimed by the PIA Spokesman in a statement issued here on Wednesday.
He said that for reasons of confidentiality the exact banks account balances are not being disclosed but just a single local bank account has enough funds to meet daily operating expenses.
While on just two foreign stations- one in the Middle East and the other in North America, the foreign exchange deposits in US Dollars are also significant, the spokesman further remarked.
He said that PIA has several bank accounts in different banks within and outside Pakistan for collection of funds which are moved as per requirement.
The PIA spokesman said that no airline cheque relating to Provident Fund has ever bounced even the Provident fund account has cash balance and more than Rs. 26 billion is invested for profits.
The salaries of the employees are paid at the end of each month directly into the bank accounts of the employees.
The outsourced employees are paid by the service provider and not by PIA, the spokesman added.
He maintained that `the recent spade of wrong media reports by a TV News Channel is unnecessarily damaging the goodwill of the National Flag Carrier although all of their reports have proved wrong'.
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