Leading players of business industry establish collaborations at CPECB event
Several important collaborations and business deals were established at an event organised by China-Pakistan Economic Corridor Businessman Bridge (CPECB) at Karachi gymkhana on 28th July, 2018.
Prominent personalities like Dostain khan Jamaluddin Chairman Gwadar Port Authority , Ahmed Iqbal Baloch President of GBDA (Gwadar Builder and Developer Association) Member of CPNE (Council of Pakistan Newspaper Editors) Member of PB (Pakistan Broadcasters Association) Vice President of CPEC Media Forum Member of Gwadar Chamber of Commerce, Zahid Umer Chairman Pakistan China Business council , Mr. Imran Ghani Director Dollar Industries Mr. Shazad officials of China overseas port holding company , Tariq Gul from Pak Afghan Cargo, Aslam Pardesi from Pardesi group of companies , Maqsood Zulfiqar from Rastgar, Mariam Chaudhary from Mass Human Resource, Lt. Col Maqbool Afridi from Gwadar Business Association (PVT) Ltd, Asad Fecto from Fecto Cement , Muhammad Shareef Baloch from Baloch Estate , Commander Adil Rashid , Muhammad Ali Zia from Alizai Studio, Obaidullah Shareef from the Recruiters, Mr Vaqar from Chase International, Mr Qazi from Voice of Gwadar , Amir Nadeem from Insync Business Solutions, Muhammad Siddiq VP standard Charter Bank, Miss Erum, Abdul Ghaffar from Fenchem Biotek (Pvt) Limited, Muhammad Jahangir from Durrani Associates, Muhammad Adeel from ITS Industries (pvt) Ltd ,Abdul Basit from Hafiz construction company, and others were present on the occasion.
It was the first networking event regarding CPEC where a number of business opportunities were explored by leading players of the industry.
Through CPECB events, its members have been able to interact with each other to explore avenues of profit. CPECB businessman family is increasing rapidly and contributing extensively to development of CPEC. It is the only platform which connects all businessman and trade bodies under one roof.
Today if you like to connect with CPECB and CPEC project and specially want to interact with other businessman to enhance your business no matter you are local or looking to invest in Pakistan, CPECB is the main source to connect. CPECB offer businessman across the globe an easy way to connect entire officials through online portal and with their own app messenger which offer multiple language translation. Not only this, but CPECB organises time to time events to enable personal interaction which you will not find anywhere else.
Businessman can apply for CPECB membership through their online portal https://www.cpecb.com and verified their profile ones .
We are thankful to CPECB which is working hard to play its part in building strong economy under Pak China friendship and one belt one road. It is a $ trillion project initiated by China.
It is my proud privilege to address this august gathering.
My name is Tariq Haleem and I am the Vice President of The Federation of Pakistan Chambers of Commerce and Industry, known as FPCCI.
FPCCI is the apex body of Pakistan i.e. all the trade associations and all the business chambers of Pakistan have to be the members of FPCCI by law.
FPCCI has under its umbrella, 223 Trade Bodies that is 87 Chambers of Commerce and Industry plus 136 all Pakistan Associations, representing the Industry, Trade and Service sectors.
First of all I would like to recall the situation which prevailed during the time of the last concession holders. During 2008 to 2010 about 1 million tons of wheat and about 2.2 million tons of urea (all government cargoes) arrived at Gwadar Port. Consequently there was a lot of transport movement, but no benefit accrued towards the development of the port of Gwadar, and nothing tangible was initiated, no basic infrastructure was developed and the port remained in its primitive state.
Now / today Gwadar is a success story under the auspices of China Overseas Ports Holding Company (COPHC). The very basic infrastructure has been put in place, thus paving the way for upcoming projects and also enhancing the facilities to be put on fast track.
It is indeed a very historic and happy occasion for all of us that the first COSCO weekly liner service vessel Ms Tiger has arrived today on her inaugural voyage here at Gwadar port.
Mark my words that 7th March, 2018 is a historic day.
I am sure that most of you are aware that FPCCI with COPHC has been working for sometime to ensure commencement of regular cargo shipments at Gwadar Port so that we can send a message to the world community that Gwadar Port is fully operational and fully functional.
Islamabad and Beijing see Gwadar as a “FUTURE JEWEL” in the Pakistan and
China CPEC flagship of China’s “One Belt One Road” initiative to build a new silk road of land and maritime trade routes across Asia and beyond. We are positive that Inshallah Gwadar port will very soon be a major transshipment hub and a mega port.
We have been assured by China Overseas Ports Holding Company (COPHC) that they will be providing special rates / benefits & services not only for all cargoes but also special benefits for Afghan Transit cargoes.
Therefore apart from other cargoes, the first priority is now to immediately attract Afghan Transit cargoes at Gwadar Port and also to promote transit of Fertilizer for Afghanistan via Gwadar Port.
By getting concessions / benefits for Afghan Transit cargoes from China Overseas Ports Holding Company (COPHC), FPCCI / COPHC will also be acting as a bridge for better relations between Pakistan and Afghanistan.
I congratulate the Chief Minister of Balochistan, Mir Abdul Quddus Bizenjo who has made a very wise decision by appointing Mr. Hussain Islam as advisor on GDA and BCDA with the status of provincial minister. Mr. Hussain Islam belongs to the shipping sector and I am also from the shipping sector. I am confident that he will put in all his efforts to ensure exemplary development of Gwadar port as a progressive modern port.
Pakistan is presently exporting wheat in bulk and more than 1 million tons will be exported from Punjab. Therefore congestion at both Karachi Port and Port Qasim is expected. We at FPCCI feel that this is an opportune time to divert some ships to Gwadar for loading of Wheat export cargoes.
I have discussed this matter with Mr. Hussain Islam (the Advisor to the Chief Minister) and he in turn discussed with the Chief Minister Balochistan Mir Abdul Quddus Bizenjo to consider a subsidy for the extra transport costs. In fact we have received confirmation last night that the Chief Minister has agreed to our request.
We hope that COPHC can capitalize on this unprecedented initiative by the Chief Minister.
If we work intelligently / plan properly now / today, we can coordinate import of rock phosphate, seeds and scrap in ship loads to Gwadar. These import cargoes are also destined for Punjab.
Therefore transport can move both ways i.e. with export wheat cargo from Punjab to Gwadar and import cargo of rock phosphate, seeds and scrap etc. to Punjab which will hopefully result in bringing down the extra transport costs.
The Chief Minister of Balochistan Mir Abdul Quddos Bizenjo has also offered free of cost office space to FPCCI at Gwadar. FPCCI has gladly accepted this offer of the Chief Minister.
Shifting of some cargoes from Karachi Port and Port Bin Qasim to Gwadar Port will also help in reducing congestion at those ports.
We shall very soon have a press conference and a “MOU” signing ceremony with the government of Balochistan.
FPCCI highly appreciates the initiatives and giant steps that the Chief Minister is taking in the right direction.
Furthermore two major cement manufacturers namely DG Khan Cement and Attock Cement who are located at hub district of Balochistan have already expanded their production capacities by a total of about 3.75 million tons and It would be convenient and economical for these cement industries to export cement and clinker in bulk and bag condition from Gwadar Port. Consequently this would also generate two way transport movement from & to Gwadar which would help in reducing the cost of transportation.
It is also pertinent to mention here that Gwadar has great potential for the development of Tourism because of its azure water and attractive white sandy beaches, temperate climate and friendly people. Plus as you all know Gwadar is free of crime. During winter cruise ships from Europe move towards the gulf region mostly to UAE ports on a seven day cruise, Hence Gwadar should be developed to provide an alternate destination which would boost the tourism industry. FPCCI in cooperation with COPHC is already making efforts to attract cruise ships to Gwadar and Inshallah we shall have some good news for you very soon.
COPHC has also assured FPCCI of their continued support for the LOCALS of Gwadar.
I would also like to mention here that the efforts put in to organize Gwadar Expo 2018 during January was a great success in projecting the benefits to be achieved for the investors at Gwadar.
FPCCI members are keen to invest and setup projects at Gwadar.
In fact only yesterday I received a call from Mr. Rasheed Jan Mohammad of West bury Group (they are one of our most important members) to remind me that their proposal to setup a edible oil refinery with a dedicated jetty is pending with GPA.
I would like to take this opportunity to also request the customs authorities to expedite required permission / infrastructure for commencement of WeBOC i.e. I.T. related issues at Gwadar Port.
I would like to reaffirm our stance i.e. FPCCI is continuously striving to act not only as a bridge between the business community and the government but also between nations.
It is in this context that FPCCI is signing a Memorandum of Understanding (MOU) with COPHC today.
We hope that this will further cement our close and brotherly relationship.
In ending I would like to specially mention here that in a very short span of time Mr. Zhang Baozhong has become a good friend. I wish him the very best of success.
The campaign in London, sponsored by China Pak Investments Corporation (CPIC), has the potential to reach or make an impact on at least 10 million people for the month-long duration it will be featured on London buses.
One Investments Limited Chief Operating Officer Stuart Reid told Geo News in an interview that the “red Gwadar buses” have been launched in Zone 1 of Central London, the heart of the world’s financial capital, and go out till Zone 4 to celebrate Gwadar.
“It’s our estimate that at least 10 million of the world’s most influential people will see these buses whilst parading the most posh localities of Central London from Oxford Street to Park Lane and Buckingham Palace to the Houses of Parliament and Lords in Westminster,” he said. “We have put Pakistan and Gwadar on the highest platform in the most prime locality of London, the city with the world’s most billionaires, which sees over $5 trillion in daily financial transactions.”
He expressed delight at Gwadar buses generating huge response within few hours of the launch.
According to Reid, the aim of this campaign is to showcase Gwadar as the emerging trade hub of South Asia on the global platform.
Boost for economy
“Pakistan is amongst the fastest growing economies in Asia today, it is poised to become the 20th largest economy in the world by 2030 and the world should understand these facts,” he said. “The difference between Pakistan and other regional competitors today is not capability or potential but negative PR. Pakistan is a land full of opportunity and here at the CPIC we will bring these opportunities to the forefront for global investors.”
Reid said Gwadar is a city prime for global investment. He gave reference to an article published last week in The Telegraph, one of the UK’s leading publications, which said that Gwadar held the potential to the be the next Dubai.
“Looking for an economic perspective we can indeed see the parallels, Dubai’s Jebel Ali Port and Freezone generate over 22% of Dubai’s GDP creating employment for 100s of thousands of jobs,” the COO said. “Similarly, China has launched the first phase of Gwadar’s Freezone which is expected to become the busiest port in South Asia by 2022.”
Land prices in Dubai grew over 3000% in the last 20 years as it established itself as the shipping and trade hub of the Middle East. “We see Gwadar following a similar trajectory as the shipping and trade hub of South Asia.”
When asked why Gwadar campaign has been launched on London buses, Reid said that brands such as Nike, Apple and Amazon advertise on this platform. “We didn’t think there was any more suitable platform to showcase Gwadar other than alongside the world’s largest brands”.
He said that some elements are opposed to investment in Gwadar for their selfish reasons but the fact is that Gwadar’s security is in the hands of the Pakistan Army, there is not a more secure city in the entire country. “As a matter of fact Gwadar is amongst the safest cities in the world.”
Locals are heavily involved with the development of Gwadar. They are benefiting from the economic footprint of CPEC by the way of jobs at the port, education at the Chinese built schools and medical treatment at Chinese built facilities, he said.
Reid added the destiny of people of Gwadar has turned around in the last two years since China took over the port and yesterday’s sand has become today’s gold with land prices increasing 500% and land owned by locals that was worth tens of thousands of dollars is now worth millions.
He said that CPEC is holding road shows in America this week and a campaign will soon be launched in Washington and New York as well.
The road shows are being held in San Francisco, Sheraton Park Hotel at the Anaheim Resort, Houston, Dallas, New York, Renaissance New York Midtown Hotel, Chicago and Toronto.
China has committed $62 billion to the initiative under its One Belt One Road initiative to develop commercial logistics links with Europe to get access to a warm water port 350 miles from the Straits of Hormuz.
Chief of Army Staff (COAS) General Qamar Javed Bajwa laid the foundation stone of a UAE and Swiss government-supported Gwadar desalination plant when he arrived in Balochistan on a two-day visit on Sunday, confirmed the army’s media wing.
The project fulfils a long-awaited demand of locals and shall provide them with 4.4 million gallons of water per day with the capacity to increase to 8.8 million gallons per day.
The desalination plant will be completed in six to eight months time and will help resolve the scarcity of drinking water in the area, apart from reducing the hardships of residents of the area, who currently have to fetch water from far-off areas.
“Balochistan’s progress is Pakistans’ progress and the Pakistan Army will extend full support apart from assisting in the socioeconomic development of Balochistan,” stated the COAS.
The COAS further said, “All measures in coordination with the civilian government would be taken to bring peace and prosperity in Balochistan,” as he highlighted the importance of ongoing projects as part of the Khushal Balochistan programme.
He went on to emphasise that these projects will transform the lives of people of Balochistan and that the potential of the province as a regional economic hub will only be realized when the people of Balochistan are best served by these projects.
Balochistan Chief Minister (CM) Mir Abdul Quddus Bizenjo, UAE Ambassador Hamad Obaid Ibrahim Salim Al Zaabi, Commander Southern Command Lieutenant General Asim Saleem Bajwa, the Frontier Works Organisation (FWO) DG, and a large number of locals were present on the occasion.
Later tonight, the COAS will attend the closing ceremony of the Makran Festival in connection with Baloch Culture Day.
Gwadar is a significant asset for Pakistan and China and holds the potential to become the next Dubai in future, a British newspaper predicted, adding that the sea port would build alliance between Pakistan and China that could up-end the entire balance of power in the Indian Ocean.
The report came after citing the China Pakistan Economic Corridor (CPEC) plan, which iterated that the bilateral infrastructure and planning contract will prove beneficial to the neighboring countries, Telegraph published on Saturday
According to the source, Pakistan faced an imminent blackout which could effectively be solved with a genuine plan to fix the discrepancies in delivery and communication of the difference in the need and provision of electricity resources.
“The demand and supply gap was widening by the day and there was not a single power station under construction,” the article mentions.
The newspaper drew envisage that the Gwadar East-Bay Expressway will do good as the economic corridor backs Pakistan in its lack of $30 to 35 billion to proceed such working.
“We calculated we needed $30 to 35 billion to fix it, and there was no way Pakistan could generate that kind of money. That’s what prompted us towards the China Pakistan Economic Corridor,” Governor of Sindh, Muhammed Zubair, also one of the architects of the scheme, told The Telegraph.
The article speaks about the China-Pakistan handshake over the entire national economy, where China has committed $62 billion to the initiative in plowing a fine infrastructure plan for the seaport to turn it into a mega transporter to the European countries.
The Telegraphs has hinted at the possibility that CPEC will turn out to raise a massive opportunity in changing the balance of power in Asia; keeping that China is keen to maintain its position among countries neighboring the Arabian Sea – including the setting up of its splinter ports in Myanmar and Sri Lanka to ensure the safety of freight ships.
“The deal goes something like this: Pakistan gets massive and much needed infrastructure investment while China gets access to warm water port 350 miles from the Straits of Hormuz – a key part of its “one belt one road” initiative to develop commercial logistics links with Europe.”
“So I would not question that they have far more objectives than a win-win for China and Pakistan in economic terms. They want to compete with the United States. This gives them the security leverage that they desperately need,” the Governor added who advised the government on tax and economic reform.
ISLAMABAD: The maritime department revealed on Wednesday that China will build the Pak-China Technical and Vocational Training Institute in Gwadar to fulfill the technical and skilled manpower requirements for building and running the deep-sea port. “The institute will help fulfil maritime technical and skilled manpower requirements after the development of industrial projects including the Gwadar Port Free Zone, Export Processing Zone and other industrial and port-related projects,” an official of the Ministry of Maritime Affairs told APP. He added that local people are the main stakeholders of Gwadar and that their participation in operation and management of the deep-sea port, industrial and commercial businesses, and the urbanisation process is key to the long-term development of the port city.
Chinese Ambassador to Pakistan Yao Jing has said that there was no threat to China Pakistan Economic Corridor, expressing the hope that Gwadar Port was close to becoming an international trading hub.
In an interview with BBC Urdu on Friday, he said law and order situation in Balochistan has improved considerably.
Responding to a question regarding separatists, he said “they are not true Pakistanis”.
He said around 10,000 Chinese nationals were working on CPEC and Beijing was satisfied with the measures taken by Pakistan for their protection.
The envoy said CPEC was in the first phase in which work on 21 project was underway with 20 more projects in the pipeline.
He said the CPEC would be expanded to neighboring countries including Afghanistan.
Responding to a question regarding Pak-Afghan relations and peace in Afghanistan, he said China was desirous of good relations between the two countries and was making efforts for reconciliation process in Afghanistan.
To a question, he said his country has no influence over Taliban but it was in contact with Taliban’s political office in Qatar.
He said his country has time and again requested the Taliban to take part in negotiations.
Road trips are the best way to discover a land, and Pakistan, with its geographical diversity and opportunities, makes it ideal for a road trip adventure. However, this aspect is largely overlooked with negative news and views engulfing us.
Sometime back I went on a three-day trip from Karachi to Gwadar and I can, without doubt, say that it was the most eye-opening and memorable trip for years to come. Therefore, I thought that it would be great to share this fabulous part of Pakistan with others. The one-way trip is 650 km long and takes about seven hours to cover.
>Destination Gwadar Expo – Gwadar Port Authority
Leaving Karachi on a fine morning, you head towards Hub. Hub is an industrial centre of the country located just within the perimeters of Balochistan.
Leaving the town of Hub, you pass the Sonmiani ridges and beaches on opposite sides. Approximately 90km from Hub is where you reach the ‘Zero Point’, where you move onto the Makran Coastal Highway.
From Zero Point to Kund Malir
Once on the Makran Coastal Highway, the landscape changes. For half an hour or so, on both sides are vast flat lands with some instances of green, cultivated fields. However, soon the landscape becomes delightful and interesting as you leave the plains behind entering into the Makran Range.
The first attraction is on the left side where there are various active mud volcanoes out of which the most prominent are, Chandragupt I and II.
Travelling an extra hour, you reach the serene Kund Malir beach, a rising weekend destination for Karachiites. The sand at Kund Malir is extremely clean as compared to the beaches of Karachi and the greenish-blue sea shines in the sunlight all day long. A number of dolphins can also be spotted here jumping out and diving back into the water.
Kund Malir to Ormara
The gradient of the road changes rising towards the highest point on the Coastal Highway, the Buzi Pass. Cruising through mountains on both sides of the road, it is a surreal experience. Sea and wind erosion have chiseled rocks into interesting and grotesque rock formations scattered across the area.
One such example is the Princess of Hope, named by Angelina Jolie during her visit in 2002. However, the gradient becomes flattered near the town of Ormara. The hammerhead rock jutting into the sea is one of its salient features.
Ormara to Gwadar
Ormara is about halfway on the Karachi to Gwadar journey. Activity in Ormara, like other towns in the area, centers around fishing. Therefore, it is a suitable place for a stopover for lunch or just for the purpose of breaking the journey.
In between Ormara and Pasni lies the Buzi Makola Wildlife Sanctuary, which is an inlet of the sea and a haven for migratory birds coming from Siberia in search of warm waters during winters. It is of particular interest to birdwatchers and photographers alike.
Near Pasni, the area is again hilly all the way till Gwadar. Pasni is also second only to Gwadar in terms of fishing industry in Balochistan.
Right now is probably the best time to visit Gwadar and witness it in its developing stages and its relatively raw feel. There are various attractions in Gwadar such as the hammerhead, Omani Fort, boat-making yard and the Gwadar Port.
Gwadar is unique in the sense that it has two large bays. The East Bay is where the Deep Sea Port is located. The city is exposed to the sea from three different directions thus, shaped like a neck. Gwadar also has two hills, the Koh-e-Mehdi and the Koh-e-Batil.
The last town before the Pak-Iran border is Jiwani. It is a great place to visit for its spectacular sunsets. Visitors can also see the Queen Victoria hut maintained by the Pakistan Coastguards and built on her orders during World War II.
During the war, Jiwani had over 20 airfields where British pilots came to rest and refuel. Some of these can still be visited and have historical markings and name tags of British pilots. The sea here is quiet shallow, in fact, I spotted a number of motorcycles being driven on the sea with fishermen attaching their boats to them and hauling them in!
Pishukan — the highlight of the trip
Pishukan is a scenic place which, unfortunately, hardly gets any tourists. It is located at about a half an hour’s drive from Gwadar and is a small town along the sea where the population depends on fishing. In the future, it is planned that the Gwadar Jetty will be shifted here.
Driving to the top of the cliff near the coast is a majestic experience to say the least. The crystal clear waters and vibrant fishing boats make a sight to behold. On the other side of the road is a desert landscape with rippled, rolling sand dunes blowing over the tarmac. In addition, the track to Ganz village reveals mesmerizsing cliffs and table-top mountains. Ganz village itself is fabled for the blonde hair, blue-eyed and fair complexioned people who are believed to be of Portuguese descent.
Climate of Gwadar
The climate of Gwadar is located at 0 metres (0 ft)–300 metres (984 ft) meters above sea level, features dry and hot arid climate. The oceanic influence keeps the temperature lower than that in the summer and higher in winter. The mean temperature in the hottest month of June remains between 31 °C (88 °F) and 32 °C (90 °F). The mean temperature in the coldest month of January varies from 18 °C (64 °F) to 19 °C (66 °F). The uniformity of temperature is a unique characteristic of the coastal region in Balochistan. Occasionally, winds moving down the Balochistan plateau bring cold spells, otherwise, the winter is pleasant. In Gwadar, winter is shorter than summer. Gwadar’s weather is identical to that of the Middle East as most rain occurs from December till January. The highest rainfall of 227 millimetres (8.9 in) in 24 hours was recorded on 6 June 2010.
Accommodation and security
Earlier, when people visited Kund Malir, they couldn’t spend the night there due to the lack of accommodation services. However, now a 20-room hotel has been built, with room costing around Rs3,000. But it could be higher on Expo time
Gwadar, on the other hand, has various hotels and places for staying. The security situation is stable, contrary to popular belief about the area. The entire length of the highway is safeguarded by Pakistan Coastguards’ check posts and watchtowers. The fact that a restaurant in Ormara is run by a Pathan from Chaman reflects the safe and harmonious conditions that prevail within the region.
KARACHI: Amid demand emanating from the China-Pakistan Economic Corridor (CPEC), Pakistan International Airlines (PIA) is set to start direct flights from Islamabad to Gwadar as the national carrier looks to gain air traffic and reduce its losses.
The cash-strapped national carrier faces more than Rs319.1 billion in accumulated losses by the end of March 2017, but is now looking to remove loss-making routes from its agenda, while adding new and profitable destinations to its schedule.
“We would connect Islamabad and Gwadar by the end of this year (December 2018),” PIA Chief Executive Officer Musharraf Rasool Cyan told The Express Tribune in a recent interview. “Being the national carrier, we feel the responsibility for improving connectivity through Pakistan.”
Gwadar’s development is the flagship project under CPEC, and its port – set to be completed this year – links China to the Arabian Sea. Given its importance to both China and Pakistan, direct flights will give PIA a much-needed boost in its endeavor to reduce losses.
It also recently suspended flights to New York, which it said caused a loss of Rs1.5 billion per year.
In addition, the new Islamabad airport, which is due to start operations in the first half of 2018, is set to give PIA an edge, believes its CEO Cyan.
Cyan said the new Islamabad airport could be the new hub Pakistan desperately needs as it looks to boost tourism after losses due to terrorism, and a precarious security situation turned away local as well as foreign tourists.
“We want to make (the new) Islamabad airport a hub,” Cyan said, adding the airport would cater to passengers travelling from Europe, Africa as well as China and Asia Pacific countries.
“If we find it appropriate, we would improve connectivity (through code sharing) with other airlines,” he said.
The PIA chief executive said the national carrier – for long a burden on Pakistan’s fiscal operations – would play a major role in determining the success of the new Islamabad airport. “It has been observed that airports and airlines are grown side by side … PIA would remain the key airline for Islamabad, which would remain only a terminal destination for foreign airlines,” he said.
These days, PIA is developing its office and booth at the airport with a recently extended credit line of Rs13.5 billion from commercial banks and backed by state sovereign guarantee.
The credit line is partly being used to meet working capital requirements and engines overhauling, he added.
The national-flag carrier would also fly to DG Khan from Islamabad and Lahore and vice-versa in 2018. Besides, it would increase the frequency of its flights to Multan, Zhob and Turbat.
PIA flies to around 109-110 destinations around the world every day, including domestic ones.
Right now, PIA is managing a fleet of 36 aircraft, which it plans to expand to 44 in the next three years.
PIA CEO said fleet management would also be improved by upgrading software at the engineering department. The software would help reduce the time of keeping faulty aircraft grounded for repair and maintenance.
Last year, its faulty aircraft remained grounded for a combined total of 443 days, causing a revenue loss of Rs3.5 billion. “If they had been operating, PIA had earned additional revenue of Rs3.5 billion in 2017,” he said.