PSO receives Rs10.5 bln from Finance Ministry

BusinessPSO receives Rs10.5 bln from Finance Ministry

February 15, 2013

ISLAMABAD: Pakistan State Oil (PSO) has received Rs10.5 billion from Ministry of Finance, after it the company has increased furnace oil supply from 8,000 tons to 13,000 tons, Dispatch News Desk (DND) reported on Friday.

Official said oil would only be supplied to those companies that are paying timely.

It may be noted here that PSO is to pay a total of Rs56 billion to international fuel suppliers from February 19 to 28, 2013.

Last week, the PSO had urged the federal government to release Rs15 billion so that it could save itself from defaulting on its LC payments and square with its creditors. Various departments including ministry of water and power are indebted of Rs150 billion to PSO collectively.

DND

Asad Haroon

All the information published under this Author is via Web desk/Team/Contributors. Opinons and views of the Organization may differ from the views represented here

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