He said that PIA was paying Rs 3.29 billion interest on legacy loans that were taken in 1992.
Talking to media persons here in Islamabad, he said that ten more narrow body Airbuses and five ATR aircraft would be inducted in Pakistan International Airlines (PIA) in the end of December this year.
The Chairman PIA, Nasir Jafar was also present.
PIA had received delivery of its 8th A-320 aircraft acquired on long term Dry Lease from General Electric, Shujaat Azeem added.
He said that the induction of more aeroplanes in PIA would help boost its performance and generate more revenue.
He said that government would soon introduce new Aviation Policy. The government is committed to remove corruption from the institution, he added.
PM's Advisor said that PIA has 25 operational Airbuses and 11 ATR aircraft at present and improving the number would also overcome its financial issues.
To a question, he said that Boeing 747 and Airbus A310 aircraft would be grounded after completion of Hajj operation as these are extra-fuel consumer, saying that 84 percent traffic of PIA was operating on short medium routes.
He said that after the Karachi airport attack, the Prime Minister had issued Rs 5.7 billion to improve security situation at all the airports.
Chairman PIA said that he had full confidence in PIA employees and hoped that with the collective efforts of airlines' employees and the support of government, PIA will soon be able to bring efficiency and performance.