According to the investigative piece published in The News on Tuesday claimed that the company in question, run by a retired Pakistan Air Force (PAF) officer, Khawaja Moizuddin was registered with a capital share of just Rs100,000.
The owner of the private company, Moizuddin, is also allegedly a close friend of suspended PIA CEO Air Marshal Arshad Malik. The Sindh High Court had earlier this year barred Malik from discharging duties at PIA after a petitioner challenged his qualifications for the job.
When contacted to comment on the developments, a PIA spokesperson termed the allegations “highly unfair and absurd.” Avionic Solutions, according to the spokesperson, had extensive commercial, military avionics, and technical support experience, The News reported.