Updated on
Summary
PSO said that its circular debt has crossed Rs 146 billion and the company can be bankrupt if government doesnt not pay at the earliest. According to PSO spokesman, PSO circular debt has crossed Rs 146 billion due to delay in payments by the government. He urged the government to clear its arrears as early as possible; otherwise there is a strong chance of the company to be bankrupt. The spokesman said that PSO has to pay Rs 83 billion to local oil refineries and Rs 42 to LC and Kuwait Petroleum.
