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Wednesday February 28, 2024

FBR freezes PIA accounts over outstanding FED arrears

By News Desk
November 30, 2023

KARACHI: The Federal Board of Revenue (FBR) has once again frozen the accounts of national flag carrier PIA for failure to pay Rs five billion in federal excise duty.

A PIA plane. — APP File
A PIA plane. — APP File

The FBR has once again frozen all the bank accounts of PIA, throwing the airline once again into a huge crisis for failing to pay the outstanding Rs five billion in federal excise duty. This action was taken by Karachi’s Large Tax Unit (LTU). According to the FBR, the airline’s bank account containing Rs 15m has been deposited into the treasury against the FED arears of Rs five billion till September 2023. The FBR has given the directive to deposit any amount that is credited into the airline’s accounts to the national treasury. Earlier also, the FBR had frozen the PIA accounts.