PSO defers import of 1 million tonne POL products

KARACHI: Pakistan State Oil (PSO) has deferred import of one million tonne of different oil products owing to financial restraints, Geo News reported on Tuesday.

The decision to import oil for March-April period has been deferred for one week.

It may be noted here that large-scale consumers of POL products owed to PSO a cumulative sum of Rs158.4 billion. In turn, PSO owed Rs40 billion to Kuwait Petroleum and other international petroleum companies besides Rs86 billion to various refineries.

PSO had requested to the financial ministry for issuance of Rs80 billion, of which Rs30 billion are expected to be released this week.(GEO URDU)