Business

To Avoid A two-month oil import ban, private banks Refuse to provide PSO the Rs. 80 billion they need

Fuel price increases have been in the news for a few days, but now private banks are refusing to lend to PSO, which needs Rs 80 billion to avert a two-month oil import ban.

To Avoid A two-month oil import ban, private banks Refuse to provide PSO the Rs. 80 billion they need

In addition to the disruption to the company’s supply chain caused by the default, PSO was concerned that the delay in receiving payments from the power sector could have very negative financial, regulatory, and political ramifications. It was also concerned that it would take a long time to get the supply chain back on track and regain the trust of suppliers.

Receivables from the home sector for the supply of liquefied natural gas (LNG) totaled Rs. 344.76 billion, compared to Rs. 183.31 billion for the power sector. Additionally, a state-owned corporation is owed Rs. 77.66 billion by government agencies. The PSO is owed Rs. 149 billion by the Central Power Purchasing Agency (CPPA).

Read More :: New Steel Products Prices Up by Rs. 3,000 Per Ton

Abdul Qadeer

My Name is Abdul Qadeer. And CEO Pakistanwap ( JamilBaba ) 😊

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button