Being in debt is becoming common it seems. Pakistan Railway and Pakistan International Airlines are a part of the list of companies under debt.
Pakistan State Oil or PSO has millions to be paid in dues as it is to receive outstanding payments from different companies which also includes the PIA.
PSO is facing problems paying internal and external companies due to abysmal recovery from debtors and is facing an acute financial trouble.
PIA’s Debt Towards PSO
According to the state oil company, PIA has used Rs. 830 million worth of fuel and has only paid Rs. 430 million. This is only for the fuel used since November 26 2016.
The total receivables from PIA amount to Rs. 4.42 billion.
PSO issued a statement saying,
PIA is called upon to pay the outstanding amount, failing which PSO would be constrained to immediately suspend oil supplies
Oil Supply Will Be Suspended in Case of Non-Payment
The state oil company has informed the Ministry of Petroleum and Finance Ministry of this problem as well. PSO has sent a letter to the upper management of the PIA requesting the payment of the arrears and warning them of suspension of oil supply if they cannot pay on time.
PSO’s financial problems may also be rooted in the launch of the new RON 92 fuel in the country. The fuel is being sold at a lower price than usual. This is because the people will not buy the fuel if it is priced at its original, higher price.
Read More: PSO Starts Selling High Quality RON 92 Petrol in Pakistan
Via Dunya News
nahi bhai PIA or railway to profit me ja rahi hy, or hamari bewakoof awaam ministers ki is baat per bharosa bhi karti hy yeh nahi k dekhti k company ka debt kam huwa hy ya barha hy
Jahil awaam k shatir hukmaran
O hello, which minister said profit mai ja rahay hain? Do not twist facts and mention half truth. You want govt to pay their debt in six months to make it a success story ? Both PIA and Railway is suffering due to heavy recruitment during PPP regime, jahan 1 ki zarorat wahan 10 jayalay bhar diye.
Recent weeks me railway minister ka bayan nahi parha? or PIA ko yeh jo panama aunty bolti rehti hy profit ka uska bhi pata nahi hoga?
laga hai gand se pagal hogaya hai tu bhai ….. chutia ki baat sun ker bhala koi chutia awam ko chutia bolta hai ? …… hein chutiye ?
haan teri behn ny dhoka diya hy na is liye…
Is this a threat indirectly from Khakaan Abbasi Group? holding oil ministry and now owing so called Authority OGRA. when they have their own mills, companies they find the best resource but for PIA, hiring crap expired MD’s. Is it they r trying to take PIA towards privatization with help of media propaganda over ATR Crash. many things, anyways, we can expect anything from this businessmen minister team.
Read history munnay PSO has threatening PIA and has cut fuel supplies even in past as well when Abbassi wasn’t minister.
Expired MD? You don’t have a solid comment to make? Are you implying that ATR crash was by govt.?
You are ignoring the fact that PIA has improved a lot after 2014 and I am telling you this as their frequent flyer, do not comment when you don’t fly at all or with PIA.