PSO becoming a white elephant

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PSO becoming a white elephant

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Like other state-owned enterprises, PSO is also being grossly mismanaged.

21 September,2011 12:56 pm

Pakistan State Oil fulfills 80 percent of country’s oil demand. Every month it imports furnace oil but fails to collect money owing to which it is facing severe problems. Until September 19 Wapda, Habco, Kepco, PIA, OGDC, KESC, and Pakistan Railways had to pay Rs 129 billion.The PSO also has to pay 86 billion to local refineries, apart from international liabilities of Rs 84 billion.