KARACHI, April 30: The national carrier PIA is likely to fetch Rs4 billion profit during the current financial year showing 100 per cent profit as compared to last year.

The PIA chairman, Chaudhry Ahmed Saeed expressed these views here on Wednesday while addressing Annual General Meeting of PIA share-holders.

PIA’s Chief Operating Officer Khurshid Anwar, Director Finance Kalim Malik and Secretary PIA Ghazanfar Mashkoor were also present on the occasion.

“The year 2002 is truly a milestone in the history of PIA as the airline has strongly re-emerged in the aviation industry particularly when the whole industry is greatly under pressure.”

He said that Corporation took major steps during the year to reflect realistic and factual financial result, which had been appreciated by the financial analysts.

The dividend for PIA shareholders will be declared next year after the period of five years, he announced.

The PIA earned profit of Rs1.5 billion during first quarter of the current year due to Haj flights and better seat factor on UK and US sectors.—APP