Pakistan airline operated over 80 flights with 0 passengers: Report
What's the story
In an explicable blooper, Pakistan International Airlines (PIA) operated 46 regular flights without any passengers on board, from the Islamabad airport during 2016-17, revealed the national carrier's audit report. Additionally, as many as 36 Hajj pilgrim flights also flew empty. Naturally, PIA suffered major financial losses by operating these flights. However, no official inquiry has been ordered yet. Here are more details.
Details
These flights resulted in losses of over $1.1 million
According to the report, the airline, which is already in a slumber because of the country's abysmal economic condition, suffered estimated losses of over 180 million Pakistani rupees ($1.1 million), due to these flights. However, no internal probe has been launched, despite the administration being aware of the matter. The airline is yet to issue an official statement in this regard.
Economy
High inflation; Downward currency trends: Pakistan's economy is sinking
To note, the farcical news comes at a time when Pakistan's economy has hit the rock bottom. It is witnessing rising levels of inflation, customer account deficits, and downward trends on its currency. To deal with the situation, Pakistan's Central Bank has hiked rates nine times since the start of 2018. The country has even secured bailouts, including from the International Monetary Fund (IMF).
FATF
Pakistan might get blacklisted by FATF for alleged terrorist financing
As if issues concerning a failing economy were less to deal with, Pakistan also faces a potential blacklisting by the Paris-based anti-money laundering watchdog Financial Action Task Force (FATF) for alleged terror funding. The country has already made in to the organization's 'grey list' for inadequate measures to prevent terrorist financing. However, Islamabad has repeatedly denied any connections with terror outfits.