Govt Owes Rs. 29 Billion to Oil Marketing Companies

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The receivables of the Oil Marketing Companies (OMCs) from the government of Pakistan, on account of price differential claim (PDC) on Petrol and High-Speed Diesel (HSD), have reached Rs. 29 billion during March.

As per OCAC sales data available with ProPakistani, Rs. 22.7 billion are receivables from the government as a price differential claim (PDC) till March 27, 2022. The average PDC per day is Rs. 2.1 billion which takes the PDC for the month of March to Rs. 29 billion.

The major share (95 percent) of receivables are owed to nine big OMCs, while the remaining 5 percent are owed to small OMCs, the data reveals.

As per the data, the highest share of approximately 50 percent of PDC is from Pakistan State Oil, followed by GO, TPPL, SPL, APL, CYNERGYICO, PUMA, BE, HASCOL, and others.

In the first fortnight of March 2022, there was no PDC on petrol, while the PDC on High-Speed Diesel was Rs. 2.28/liter. The industry sale of HSD for the first fortnight of March was 292,157 tons, and the PDC was Rs. 795,943,326.

For the second fortnight, the PDC on petrol was Rs. 23.43/liter, while on HSD, it was Rs. 34.92/liter. The sale of petrol by the industry till March 27 was 310,313 tons, while HSD was 288,732 tons.

Documents reveal that for the first fortnight of April (April 1 to 15 ), the PDC on petrol is Rs. 24.07/liter, on HSD, it is Rs. 41.43/liter, SKO Rs. 32.82/liter, and on Light Diesel Oil it is Rs. 30.74/liter.

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