LAHORE - The period for the IATA agents to clear payments for tickets of various airlines sold by them has been reduced from two weeks to one, a move which has upset the travel agencies.   

The payments are made to the Bank Settlement Plan Pakistan according to a schedule which is notified in advance. A revised schedule has been issued to all IATA agents.

According to a travel agent, the reduction in the credit period will create financial problems for all those in the business.  

There are thousands of IATA agents in the country who will have to make quicker payments according to the new timelines.

An agent who did not like to be named said on Sunday that so far payments for the tickets sold between December 1 and 15 were to be made by December 30.  But according to the revised schedule,  payments for tickets sold between January 1 and 8 will have to be made by January 15. Similarly, the travel agents will have to clear their dues by January 23of all tickets sold between January 9 and 15.