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PSO Struggles as Defaulted Amount Rises to Rs. 304 Billion

outstanding claims of Pakistan State Oil on various commercial customers stand on Rs. 304 billion, which hurts companies, activities and profitability.

The company has managed to get additional funds from Rs. 23 billion in the month of March, bringing the Outstanding Receivables (including LPS) of the Power Sector, PIA and SNGPL to Rs on 31 March 2018. 304 billion compared to Rs. 313 billion as of 31 December 2017.

The management is constantly seeking to intervene to the Ministry of Finance to intervene and to inject funds to settle the outstanding receivables and to pay for the supply of furnace oil and LNG from Rs. . 130 billion planned for April-June 2018.


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In the quarter from January to March, PSO obtained a profit from Rs. 4.7 billion with a growth of 13 percent on an annual basis. The nine-month gains, however, fell by 7.5 percent to Rs. 13.2 billion compared to 14.2 billion in the past financial year.

During the nine-month period, PSO imported 66% of the total imports from the industry and the refining improved 37% of the total refining production (10% volumetric increase) over SPLY).


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The company had a productive volumetric growth of 5.4% in HSD, 12.3% in MOGAS, 10.3% in Jet Fuel (JP-1), 21% in LPG, 5% in lubricants and 34% in LNG. However, the FO volumes decreased by 29%.

The influx of smuggled products, the demand for volatile fuel from the energy sector and obstacles to the induction and smooth movement of NHA / OGRA-compliant tankers by the transport union will be the key challenges for the company in the next months.

The post PSO Struggles as Defaulted Amount Rises to Rs. 304 Billion appeared first on News Doses.



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PSO Struggles as Defaulted Amount Rises to Rs. 304 Billion

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