Tuesday, July 23, 2024

PSO’s financial crisis worsens as liabilities exceed first time ever to Rs. 615 billion

As Pakistan State Oil (PSOtotal )’s liabilities for the first time in history exceeded Rs615 billion, the company’s financial crisis grew worse.

The largest liabilities, above Rs 394 billion, have accumulated under the category of imported liquefied natural gas (LNG).

The PSO will get Rs 394.25 billion from Sui Northern Gas Pipelines Limited (SNGPL) under the category of imported LNG.

The PSO is owed a total of Rs177.9 billion in liabilities from the power sector.

The overall liabilities owed by Pakistan International Airlines (PIA) to the PSO amount to more than Rs43 billion. 

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