News
Out of stock: PSO stops jet fuel supply to PIA
INP
KARACHI – Pakistan State Oil (PSO) on Wednesday stopped supply of jet fuel to Pakistan International Airlines as it runs out of stock.
According to PSO spokesperson, the refinery which provides jet fuel to PSO has refused to supply it on credit. The state oil company, which provides jet fuel to nine airports in Pakistan, has asked petroleum ministry to intervene and convince the refinery to continue supplying fuel to PSO.
For a company with sales revenue of Rs1.4 trillion, equivalent to 33% of the government’s budget outlay, PSO is a behemoth with an empty stomach. Responsible for 60% of country’s oil need, it often doesn’t have cash to pay off suppliers. According to reports PSO has Rs 225 billion outstanding against different organisations.
Courtesy www.dailytimes.com.pk