Pakistan State Oil (PSO) has assured the stakeholders that despite hundreds of billions of rupees in pending recovery, it will not harm the petroleum supply in the country.
In a statement issued by PSO, the oil company said that it is the country’s largest Oil Marketing Company and despite what some newspapers published, the energy firm is not going to make petrol supplies scarce nor are its stocks dwindling. The company has categorically rejected these kind of news stories.
“PSO would like to confirm that neither there is, nor there will be any shortage of fuel in the country. The company has sufficient quantities of fuel and our depots are working round the clock to ensure an uninterrupted supply of products throughout the country.”
PSO is continuing to manage its imports and refinery purchases in a smooth manner. About 170,000 metric-tons of petroleum product imports are in the pipeline, with the majority of this quantity made available in the next few days.
“We would therefore like to assure our customers that there will be no shortage of fuel at PSO outlets,” the statement further added.
The statement also highlighted the issue of liquidity challenge faced by PSO. The statement said that despite all the challenges on the liquidity front, PSO is continuing to supply more petrol than its current market share to ensure uninterrupted availability of petroleum products across all parts of the country.
“Currently our collective receivables from the power sector, government for price differential claims, PIA and SNGPL stands at Rs 293.6 billion. We are constantly engaging with the Ministry of Energy, Ministry of Finance, PIA and SNGPL for the release of funds in this regard,” the statement added.
