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PIA's fuel bill in the first half of the current financial year has almost doubled and additional cost absorbed is approximately Rs2.7 billion as compared with the corresponding period of last year. The half yearly financial results indicate that due to enhanced cost of fuel, the national carrier had to incur a loss of Rs1,172 million. The operating revenue during first half was estimated at Rs18,945 million as against the operating expenditures of Rs19,032 million causing an operating loss of Rs 87 million aggravating the liquidity problems for the national airline.

 


QIAP
Quaid-e-Azam International Airport Karachi is the premier airport of Pakistan. It handles the biggest number of air travellers, users and cargo in the country despite loosing a fair number of airlines to Lahore and Islamabad Airports. It also serves the biggest number of airlines and aircraft type in the country. QIAP contributes 65 per cent to the total revenues of the Civil Aviation Authority. PAGE talked to the Airport Director QIAP, Brigadier Tariq Mahmood, to highlight operational and financial issues.


New IT Policy
Government has announced first IT policy. Federal Minister for Science and Technology, Atta-ur-Rehman said, IT policy has its main focus on the development of basic IT infrastructure and IT education in the country. Development of skilled manpower, internet usage and software development are some of the salient features of IT policy.


LPG Business
Privatization Commission conducted open bidding for LPG business of SSGC, PSO and SNGPL. The accumulated bids amounted to Rs 630 million and the participants were mostly foreign investors. The offers may not be very attractive but have paved the way for privatization of other state-owned enterprises.


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