AGM Approves 2017 Audited Accounts Of PIA
The audited accounts of Pakistan International Airlines (PIA) for the year 2017 were approved in its second Annual General Meeting (AGM) of shareholders here on Saturday
The major reasons were the 14% increase in fuel cost and 16 percent increase was witnessed in the administrative expenses.
Air Marshal Arshad Malik while addressing the shareholders said that after lot of untirung efforts now the airline is on the path of recovery however, it will take some time to make it profitable.
The CEO said that delay in audited accounts for the year 2017 was an administrative failure of previous managements but we have to move forward.
He said that complaints and suggestions of shareholders will get due consideration.
Secretary board of Directors Muhammad Shuaib, Chief Financial Officer Khalil Ullah Sheikh were also present.