Updated on
Summary
Pakistan State Oil (PSO) circular debt has surpassed Rs 1 billion while oil refineries have decreased supply of furnace oil by 60 percent to the power sector. According to the source of Petroleum Ministry, the circular debt primarily was caused due to non-payment of Rs 99 billion of HUBCO, WAPDA and KEPCO to PSO. On the other hand, PSO currently owes Rs 66 billion to oil refineries.
