Karachi: International Air Transport Association (IATA), again urged Pakistan to remove barriers to airlines repatriating ticket revenues. “Pakistan and Bangladesh are ranked highest in world in terms of funds which are blocked.

So I would really encourage these countries to make sure airlines get these funds,” said Xie Xingquan, IATA’s regional Vice President for North Asia.“I am happy to see that some countries have already taken some actions to give this priority allowing airlines to take funds back to their home countries,” he added.According to world aviation body, Pakistan and Bangladesh collectively owe over $ 700 million in blocked airline funds.In April, IATA had called on Pakistan to immediately release airline revenues that are being held in contravention of international agreements. “Situation has become severe with airlines unable to repatriate over $ 720 million ($399 million in Pakistan and $ 323 million in Bangladesh) of revenues earned in these markets,” global aviation body said in statement, back then.

“Timely repatriation of revenues to their home countries is critical for payment of dollar denominated expenses such as lease agreements, spare parts, overflight fees and fuel,” Philip Goh, IATA’s Regional Vice President for Asia-Pacific, was quoted as saying. IATA, which represents some 320 airlines comprising 83 percent of global air traffic, also urged Pakistan to simplify “Onerous process” for repatriation.