Saturday, December 25, 2010

PSO paid Rs.26b on oil sale

PSO paid Rs.26b on oil sale KARACHI: The government of Pakistan has paid off Pakistan State Oil (PSO) dues worth 26 billion rupees on sale of oil to other state departments on Friday, Geo News reported.

PSO officials told Geo News that government had paid off the company 26.30 billion rupees dues relating to oil sale to different government departments.

The officials further said that still many companies owe PSO Rs.154 billion dues out of which, Rs.141 billion have to be recovered from companies working in energy sector.

It is hoped that after the recovery of the aforementioned amount PSO would be relieved of the financial hardships in connection with sale of and all the same, it would help end oil import crisis the company is currently grappled in.


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