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Summary Pakistan State Oil (PSO) could be bankrupted if it is not paid Rs 46 within next three days. PSO circular debt has touched Rs 150 billion
Pakistan State Oil (PSO) could be bankrupted if it is not paid Rs 46 within next three days. PSO circular debt has touched Rs 150 billion. According to PSO sources, WAPDA has paid only Rs12.50 crore out of Rs 46 billion to PSO while HUBCO and KEPCO are defaulters of Rs 134 billion. PSO has to pay Rs 88.16 billion to local oil refineries while it is liable to pay Rs 46 billion to Kuwait Petroleum Company and others under letter of credit and the letter of credit will be defaulted if it didn’t pay the said amount within next three days.
