*ISLAMABAD – Pakistan International Airlines faces yet another financialblow.*
*The Pakistan Stock Exchange has put Pakistan International Airlines on itsdefault segment.*
* PSX had suspended trading of its shares for 90 days with effect fromOctober 10 (today).*
According to a PSX notice, PIA hasn’t held the annual general meeting ofits shareholders nor submitted its audited annual accounts for twoconsecutive years, which is a violation of the stock market rules.
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After PIA failed to comply with these rules, the PSX suspended trading ofits shares and gave the national flag carrier three months to comply. If itfails to do so, the suspension can be extended to another 90 days, thenotice reads.
PIA has not paid any dividend to shareholders in the last five years. Itsstock rose 4% to close at Rs4.92 per share on October 9, the last time itwas traded, with 2.1 million shares changing hands.
