Bank guarantee worth Rs 40 bn approved for PSO
Finance Ministry has approved bank guarantee for PSO to bail it out of financial crisis
ISLAMABAD: (Dunya News) – Finance Ministry on Monday has approved bank guarantee worth Rs. 40 billion for Pakistan State Oil (PSO) to bail it out of financial crisis, reported Dunya News.
According to details, Finance Ministry is arranging 40 billion rupees from various banks for PSO and bank guarantee has been approved already for this purpose. This decision has been taken on special directions issued by Prime Minister Nawaz Sharif.
Officials have told that lack of finances with PSO was a major reason of the recent petrol crisis. Uninterrupted supply of furnace oil to PSO will be ensured through these 40 billion rupees.
