(NATIONAL) PIA cancels more flights on domestic and international routes.

ISLAMABAD -- More flights on domestic and international routes were cancelled on Wednesday as the cash-strapped PIA is unable to fix its finances and ensure fuel to sustain flight operations.

Today saw cancellation of as many as 49 flights, meaning that those living in the smaller towns and cities in the far-flung regions of Pakistan are also facing great hardships as people of places like Gwadar, Turbat, Skardu and Gilgit prefer air travel to save time and avoid fatigue.

Most of these cancelled flights were again from or to Karachi which is the busiest airport in Pakistan for being the commercial hub of the country. The reason behind PIA's inability to secure funds remains the fact that neither any financial institution is ready to extend loan facility nor the federal government has been showing interest in another bailout amid the absence of any room for fiscal adjustment.

The current crisis comes as the case for the privatisation of state-owned enterprises is strengthening under the IMF conditions aimed at reducing fiscal deficit as these loss-making entities have been proving a burden on national exchequer.

In a related development, an IMF mission will visit Pakistan on Nov 2 to discuss the first review of the country's current $3 billion standby arrangement (SBA), the lender's resident representative said on Tuesday.

Given the current state of affairs, the privatisation of state-owned enterprises, especially the national flag carrier, will certainly on agenda as the IMF isn't ready to relax its conditions.

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