PSO in financial straits

Friday, July 30, 2010 at 4:31 pm

PSO in financial straits Non-payment by the government organizations landed Pakistan State Oil into severe financial crunch.
As per sources, PSO took Rs38billion loan from banks and it could not go for more credit as it has crossed the credit line set by banks. The government organizations arrears to PSO amounts to Rs139 million.
PSO threatened to suspend the furnace oil supply in view of non-payment of arrears.