ISLAMABAD: Amidst the recent speculation surrounding the possible closure of Pakistan International Airlines (PIA), the airline’s spokesperson has taken steps to provide clarification.
The PIA spokesperson confirmed the inaccuracy of rumors and concerns regarding the national airline’s closure. They dismissed the unnecessary anxiety stemming from a specific paragraph in an official statement addressing PIA’s financial situation.
The spokesperson also emphasized that setting September 15 as the closure date had unfairly tarnished PIA’s reputation.
It’s worth noting that PIA’s management has achieved significant progress in securing funds to fulfill urgent domestic and international financial obligations, including the prompt payment of employee salaries.
PIA has successfully secured short-term loans amounting to billions of rupees, marking a significant milestone. The National Bank has provided a loan of Rs 13 billion to the national airline, with a repayment period of six to 12 months.
Additionally, Askari Bank has approved a loan ranging from Rs 7 to Rs 10 billion. These financial arrangements underscore PIA’s commitment to its business operations and dispel concerns about its potential closure.
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Meanwhile, the company revolutionized the automotive industry by employing enormous presses with clamping pressures ranging from 6,000 to 9,000 tons to shape the front and rear structures of its Model Y in a process known as “gigacasting.” This innovative approach significantly reduced production costs and left competitors scrambling to catch up.
In its quest to maintain its competitive edge, Tesla is nearing a breakthrough that would enable it to die-cast nearly the entire complex underbody of an electric vehicle (EV) as a single piece, as opposed to the approximately 400 parts typically found in conventional cars, according to five insiders.
This technological expertise forms the core of Tesla’s “unboxed” manufacturing strategy, which CEO Elon Musk has introduced in March.
