IMF grants Pakistan's PIA tax waivers and equity transfers, lowering international flight costs.
The International Monetary Fund (IMF) has approved a waiver on Federal Excise Duty (FED) for Pakistan International Airlines (PIA) international flights, potentially reducing fares by up to Rs350,000 for flights to the US and Rs105,000 for trips to Africa and the Middle East. The IMF also exempted PIA from an 18% sales tax on new aircraft purchases and transferred Rs46 billion in negative equity to a holding company to lower costs. The government plans to privatize PIA by allowing bidders to compete for a 60% stake.
3 months ago
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