Private Banks Refuses to Give Loan to PSO, Need Rs. 80 Billion to Avoid 2 Months Oil Import Ban

Rising prices of fuel have been the headline for some days, now Private Banks refuse to give Loan to PSO, need Rs. 80 Billion to avoid 2 months Oil Import Ban.

PSO feared that besides the disruption in the company’s supply chain due to default, the delay in receipts from the power sector could have very serious financial, regulatory and political implications and a considerable time would be required to put the supply chain back on track and restore the confidence of suppliers.

The receivables from the domestic sector on the provision of liquefied natural gas (LNG) have reached Rs. 344.76 billion, whereas the receivables of the power sector stood at Rs. 183.31 billion. In addition, government institutions also owe Rs. 77.66 billion to state-owned company. The Central Power Purchasing Agency (CPPA) owes Rs. 149 billion to PSO.