PSO warns of another energy crisis
During the current month PSO supplied fuel worth Rs10.77 billion to Habco and Kepco. If payments are not made on time, the supply of fuel could be stopped. According to PSO sources, power sector owes PSO Rs 131 billion in all.
Wapda owes Rs 31 billion, Kepco Rs 33 billion, PIA Rs 2 billion, KESC Rs 5 billion and Railways Rs 1.14 billion.
PSO, on the other hand has to pay Rs 59 billion to national oil companies and Rs 83 billion to international oil companies.
Furnace oil prices reduced
KARACHI: Pakistan State Oil (PSO) announced deduction in furnace oil prices. Prices of one-ton furnace oil are reduced by Rs 1300 to Rs 1400.
New price of import oil was fixed at Rs 48459 after a deduction of Rs 1357 and domestically produced oil was 48377 after a deduction of Rs 1400.
New prices are effective from April 1, 2010.
PSO Facing Rs 77.7 Billion Circular Debt
PSO Facing Rs 77.7 Billion Circular Debt, Senate’s Standing Committee for Petroleum Chairman Sabir Baloch said that PSO is facing circular debt of Rs 77.7 billion. He said that many sectors including power sector may face problems if proper steps are not taken on war footing. He was talking to a meeting of Senate’s Standing Committee for Petroleum Chairman. In the meeting, MD PSO Irfan Qureshi said that different organizations including power sector have to pay Rs 69.6 billion arrears of PSO. Criticizing the WAPDA, Senator Haroon Khan said that proper steps are not being taken to end the circular debt of PSO.
PSO Facing Rs 77.7 Billion Circular Debt was first posted on November 24, 2009 at 3:59 pm.
