ISLAMABAD - The beleaguered Pakistan International Airlines (PIA) on Wednesday faced another blow when Federal Board of Revenue (FBR) has frozen its bank accounts due to non-payment of taxes worth of Rs 3 billion, sources said.

Sources said that FBR has frozen the bank accounts of PIA due to the non-payment of taxes worth of Rs three billion. “Yes we have frozen the accounts of Pakistan International Airlines and hoped that issue will resolve in next couple of days”, said a top official of FBR while talking to The Nation on Wednesday. He informed that PIA is defaulter of Rs three billion of Federal Excise Duty (FED).

The PIA officials including its Managing Director could not receive their monthly salary of December due to freeze of accounts. PIA officials have confirmed that they did not receive their salaries.

It might be mentioned here that PIA is passing through tough time, as its borrowing has surged to Rs 157 billion on November 2012 that was only Rs 42.5 billion in 2008. The PIA already requested for bailout package from the government, as the cash-starved PIA has already asked the government to provide a relief package of Rs 25 billion for repayment of government guaranteed fleet loans, retirement of expensive loans and recovery of grounded aircraft.

The PIA financial position is unlikely to be improved even in next two-and-half-years, as revealed by its chairman on Wednesday. PIA Chairman Asif Yasin Malik while addressing the business community here in Islamabad has said that PIA would have a new look by April 2015.