PIA Budget Deficit Has Climbed Down By Rs:30 B

Wednesday, March 17, 2010 at 4:11 pm

KARACHI PAKISTAN : PIA budget deficit has climbed down by 30 billion rupees at the end of year 2009, PIA authorities announced Tuesday.

According to financial results in Karachi Stock Exchange (KSE), PIA’s budget deficit stood at Rs 5.82 billion by December 31, 2009 with per share down by Rs 2.72.

PIA suffered budget deficit by Rs. 36.13 billion during the same period in previous year with per share down by Rs. 17.79.

Market analyst Mohammed Sohail told, seeming decline in PIA’s budget deficit was a result of slash in jet fuel during last year together with hike in airfares.

Also, rise in Hajj fares helped corporation better its financial matter, he added.