Trapped funds: Relevant Authorities Working To Address Issues, Says Lai Mohammed

Trapped funds: Relevant Authorities Working To Address Issues, Says Lai Mohammed
Lai Mohammed

The inability of international airlines to repatriate $464 million in revenue is a problem that the relevant authorities are attempting to address, according to Lai Mohammed, minister of culture and information.

The minister stated recently that the federal government was striving to address the current problems.

“On the trapped funds, I can tell you that the relevant authorities are working hard on that issue,” he said.

The federal government has been under intense pressure to find a way to bring the money from foreign airlines back home ever since last week.

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The development follows Emirates’ decision to pull out of the market in protest of its $86 million, making up part of the funds.

The International Air Transportation Association (IATA) expressed disappointment over the government’s position.

Stakeholders also begged the government to do the right thing and support the sector.

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