AOOA accuses foreign airlines of moving billions out of Pakistan
The Aircraft Owners and Operators Association accused foreign carriers of transferring up to $2.4 billion annually from Pakistan via offshore payment gateways on Thursday.
Letter demands tax audit
AOOA founder Imran Aslam Khan sent a letter to Finance Minister Muhammad Aurangzeb on Wednesday. The association claims ticket sales generated between $3.2 billion and $3.6 billion annually. Only a fraction of this revenue is recorded through domestic financial channels according to the group. Pakistan aviation authorities are currently seeking a five-year forensic tax audit covering every airline based in the country.
Revenue gap explained
Pakistan International Airlines accounted for approximately $750 million while other domestic carriers generated $65 million. The officially recorded foreign remittances ranged from $80 million to $411 million throughout that period. The combined documented streams amount to USD 1.226 billion, which leaves an annual unaccounted gap ranging from $2 to $2.4 billion. The letter asks if financial authorities can accurately track this missing capital flowing offshore.
Proposed regulatory changes
Around 40 to 42 scheduled airlines operate through Pakistan's international and domestic airports currently. Foreign carriers alone account for nearly two-thirds of the country's international ticket revenue. The association suggested that every ticket sale be handled only via payment gateways overseen by the State Bank of Pakistan.
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