Pakistan State Oil’s financial crisis worsens

The financial crisis of the Pakistan State Oil (PSO) has worsened as pending dues owed by various sectors and companies to the PSO have exceeded Rs 740 billion.

The Sui Northern Gas Pipelines Limited (SNGPL) owes over Rs451 billion to the PSO under the head of imported Re-gasified Liquefied Natural Gas (RLNG).

The power sector owes Rs182 billion to the PSO.

The Pakistan International Airlines (PIA) and the Government of Pakistan also owe Rs108 billion to the PSO.

Similarly, the PSO owes Rs36.4 billion to the local refiners, and it has to pay Rs154 billion under the head of imported Liquefied Natural Gas (LNG).

The continued depreciation of the Pakistani rupee can cause further difficulties, the economic experts have said.