PSO’s Circular Deficit Surpasses Rs 85bn

Thursday, January 28, 2010 at 10:42 pm

PSO’s Circular Deficit Surpasses Rs 85bn, Circular deficit of Pakistan State Oil (PSO) has surpassed Rs 85 billion. According to Ministry of Petroleum sources, oil refineries have slashed supply of furnace oil up to 60 percent. PSO has to pay Rs 62 billion arrears to oil refineries. PSO’s arrears towards WAPDA are Rs 33 billion, Hubco’s Rs 28 billion, KEPCO’s Rs 14 billion, PIA’s Rs 1.5 billion and AEF Lal Pir’s Rs 1 billion.