PSO’s receivables increase to Rs 140bn

The Pakistan State Oil’s (PSO) receivables stand at nearly Rs 140 billion at present, affecting badly its imports and supplies of petroleum products to the retail market.

The outstanding receivables substantially came down to under Rs 100 billion despite the government had released a handsome amount a couple of months back.

The circular debt has taken its toll on the oil industry at large but also affected the operations of PSO badly.

PSO’s management is not actively pursuing stakes’ acquisition in Pakistan Refinery Limited (PRSL) but it has planned to increase its share in local markets with expansion of product supplies, analysts said.

From: Daily Times