The financial crisis of Pakistan State Oil (PSO) has further deteriorated as its liabilities have reached record level, reported 24NewsHD TV channel on Wednesday.  

Sources in the PSO told 24News that the company owed Rs718 billion to the power sector and different departments.   

Sources further said that the PSO’s liabilities to the power sector, after an increase by Rs1.10 billion, have crossed Rs178 billion mark during the period of one month and 10 days, while the liabilities under the head of imported LNG have witnessed a jump by Rs74 billion during the period under review; these dues stood at Rs381 billion in December 2022, which have now soared to Rs455 billion. 

The PSO has to pay billions of rupees to the local refineries.

Sources further disclosed that concerned ministries had been updated on the amount the PSO owed to different departments and refineries.