The Pakistan International Airline (PIA) and Federal Board of Revenue (FBR) on Saturday reached understanding over non-payment of dues.
As per the agreement, the national flag carrier will submit Federal Excise Duty (FED) to FBR in four instalments.
The national airliner agreed to submit Rs1.90 billion to the FBR till June on a monthly Rs500 million instalments as PIA has to submit Rs4 billion to the FBR in terms of FED.
The Federal Board of Revenue (FBR) had frozen all bank accounts of cash-strapped Pakistan International Airlines (PIA) over Rs4.50 billion outstanding payments.
Sources within the tax collection body told ARY News that the national airline did not paid the federal excise duty (FED) that is collected on tickets over the past two years.