Cordova Application Fails to Build the iOS App Package Using Visual Studio Code

While attempting to debug using a physical iOS device connected to the Mac system, Cordova application fails to deploy the physical iOS device with the following error message:

xcrun: error: unable to find utility "PackageApplication", not a developer tool or in PATH

This occurs due to the removal of PackageApplication script from XCode 8.3 onwards and Cordova software (v8.0.0 and earlier) is not yet updated to resolve this problem.

To reoslve this issue, load the iOS project folder into XCode and debug the application on a device.