The Pakistan International Airline (PIA) and Federal Board of Revenue (FBR) have settled the mutual matters on the collection of the federal excise duty, reported 24NewsHD TV channel quoting sources.  

As per the agreement, PIA will submit the FED being collected from passengers’ tickets to the PBR on a monthly basis.   

PIA agreed to the FBR in a meeting between the FBR chairman and PIA CEO.

The national airline agreed to submit Rs1.90 billion to the FBR till June on a monthly Rs500 million installments as the national airline has to submit Rs4 billion to the FBR in terms of FED.

PIA has submitted the March installment of Rs500 million to the FBR.

Earlier, the Federal Board of Revenue (FBR) froze all bank accounts of PIA over billions of rupees outstanding payments in terms of FED.