ISLAMABAD – Pakistan International Airline Investment Company Limited(PIACL) Managing Director Najib Samie has clarified the news item relatedto the overseas properties losses.

“The AGP’s report on PIACL’s subsidiaries for the years 2008 to 2017 wasexamined wherein para 17.1 confirms that PIACL had made an accumulatedprofit of $66.792 million for the said audit period,” the managing directorstated in his clarification.

“The said report in para 17.1.2 confirms that Roosevelt Hotel, New York,made a profit of $49.862 million while Hotel Scribe, Paris, as confirmed inpara 17.1.3, made a profit of 85.890 million euros.”

He said it incorrect that the national exchequer is facing losses onaccount of PIA’s subsidiaries, rather “the profits earned by PIA InvestmentRoosevelt Hotel and Hotel Scribe offset PIA’s losses”.

It was further clarified that the AGP’s report neither mentioned anythingabout the PIACL managing director’s salary nor did the report remarked onhis extension or contract.