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ISLAMABAD: President Arif Alvi on Saturday approved funds worth Rs9.5 billion for Pakistan International Airlines (PIA) voluntary separation scheme.

In this regard, a notification has been issued by the cabinet finance division.

The funds were approved after the national flag carrier had requested the government to release grant for employees under the voluntary separation scheme.

After approval of the president Alvi, the finance secretary has also approved the transfer of funds to PIA.

It is pertinent to mention here that over 1,300 employees of the airline had submitted applications seeking early retirement under the voluntary separation scheme (VSS).