Updated on
Summary Pakistan State Oil (PSO) has given ultimatum to block the supply of furnace oil to HUBCO, WAPDA and KEPCO from February 14 over non-payment of arrears.
According to officials, PSO is liable to pay Rs 40 billion to international suppliers and Rs 80 billion to local oil refineries. Volume of PSO circular debt has reached Rs 154 billion including RS 134 billion arrears of power sector. According to PSO officials, Ministry of Petroleum and Ministry of Finance have been informed in this regard but ministries concerned have not yet taken any step to solve the issue. PSO officials have warned that they will block supply to HUBCO, WAPDA and KEPCO if 50 percent dues are not paid till February 14.
