Pakistan blocks fund worth $225 of airlines: IATA

Pakistan blocks fund worth $225 of airlines: IATA

Pakistan stood among the top markets where airline funds have been blocked from repatriation, according to International Air Transport Association (IATA).

Pakistan has blocked $225 million of airline funds for repatriation. The aviation body shared that airline funds are being blocked from repatriation in more than 27 countries and territories.

"Total funds blocked now tally at close to $2 billion," informed IATA, which called on governments to remove all barriers to airlines repatriating their revenues from ticket sales and other activities, in line with international agreements and treaty obligations.

IATA warned that the amount of airline funds for repatriation being blocked by governments has risen by more than 25% ($394 million) in the last six months.

As per IATA, Pakistan is among the top five nations in the world that have blocked airline funds (excluding Venezuela).

Other countries on the list are Bangladesh, Lebanon, and Algeria, which have blocked $208 million, $144 million, and $140 million, respectively.