Two firms based in Lahore and one each from Rawalpindi, Karachi, and Peshawar had their flight operations suspended as a result of the decision. The following clubs failed to timely renew their annual licences: Aero Club Karachi, Airborne Aviation Lahore, Selected Aviation Lahore, Rawalpindi Flying Club, and Peshawar Flying Club.
As a result of the suspension, these companies’ training planes are no longer able to take to the skies, dealing them a severe daily financial loss. The introduction of KIBOR (Karachi inter-bank offered rate) in bills, according to those familiar with the developments, is thought to be the cause of the problem.
When the permits are renewed, operations will restart, the CAA representative stated. He also said that the Board of Directors meeting would be when the decision on KIBOR will be made.
