Updated on
Summary Pakistan State Oil (PSO) has extended its ultimatum to block the supply of furnace oil to HUBCO, WAPDA and KEPCO from February 14 to Feb 17 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 155 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 had given ultimatum to HUBCO, WAPDA and KEPCO till Feb 14 to block the supply if 50 percent dues are not paid but now PSO has extended the ultimatum till February 17.
