PSO’s financial crisis worsens as liabilities exceed Rs615b
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The financial crisis of Pakistan State Oil (PSO) worsened as its total liabilities crossed Rs615 billion for the first time in history, reported 24NewsHD TV channel on Tuesday.
According to the PSO sources, the highest liabilities have accumulated under the head of the imported Liquefied Natural Gas (LNG) that have exceeded Rs394 billion.
The Sui Northern Gas Pipelines Limited (SNGPL) is to pay Rs394.25 billion to the PSO under the head of imported LNG.
The power sector is to pay Rs177.9 billion worth of total liabilities to the PSO.
The Pakistan International Airlines (PIA) is to pay over Rs43 billion worth of total liabilities to the PSO.
Also, the PSO is to pay a total of Rs50.4 billion to the local refineries.
It is to pay Rs202 billion under the head of import bill too.
Reporter: Ashraf Khan