PSO receivables reach record high
March 28, 2023 05:18 PM
The financial crisis of Pakistan State Oil (PSO) has intensified and its receivables have increased and set a new record.
According to the 24News HD TV channel, the PSO sources said in one month, total liabilities increased by Rs41 billion.
The PSO documents showed that the total liabilities of the power sector and other institutions also exceeded the new record level of Rs777 billion as the dues on the power sector exceeded Rs178 billion.
In one month, the dues of imported LNG increased by Rs26.7 billion while the dues of imported LNG in February 2023 were 475 billion rupees, the documents showed.
The PSO sources said for the first time in the country's history, the bill of imported LNG has exceeded Rs502 billion.
The sources said Northern Gas Company has to pay more than Rs502 billion for imported LNG while the losses have reached Rs62.8 billion due to the dollar gained value against the Pak rupee.
The sources said PSO has to pay billions of rupees towards local refineries and imports.