PSO receivables increase to Rs 334bn

F.P. Report

ISLAMABAD:  Pakistan State Oil (PSO) receivables have increased to Rs334 billion as state-owned company which is all time high and PSO continues to manage financial difficulties in term of non-payments.

According to the reports, the power sector of the country have to pay a mammoth Rs285 bn including Hub Power Company stands at whopping Rs85 bn and Korea Electric Power Corporation has not yet released payments worth Rs43 bn.

Similarly, the state-owned Pakistan International Airlines is in debt of Rs16 bn and have to release the fund int his regard.

PSO is facing immense difficulties in making payments to other companies. At present, PSO has to make payments worth Rs84 bn to refineries for purchasing oil and gas.