PSO paid Rs 40.61 billion by clients

The power sector and other clients of Pakistan State Oil (PSO) have paid Rs 40.61 billion out of Rs 197.85 billion outstanding amount to the company within a week, Business Recorder has learnt.
According to official data, Hub Power Company Limited (HUBCO) has paid Rs 21.130 billion out of Rs 91.015 billion, Kot Addu Power Company (Kapco) Rs 19.70 billion out of Rs 54.97 billion, Water and Power Development Authority Rs 400 million out of Rs 46.53 billion, Pakistan International Airline (PIA) Rs 137 million out of Rs 3.429 billion, Pakistan Railways Rs 50 million out of Rs 957 million and Oil and Gas Development Company (OGDCL) Rs 57 million out of Rs 356 million. PSO has requested the Ministry of Finance for immediate release of Rs 50 billion, so that it could pay the outstanding liabilities which last Friday were Rs 197.85 billion.
The PSO current total receivables of Rs 157.237 billion includes Rs 46.212 billion from Wapda, Rs 70.417 billion from the Hub Power Company (Hubco), Rs 15.282 billion from Kot Addu Power Company (Kapco), Rs 3.292 billion from Pakistan International Airline (PIA), Rs 299 million from Oil and Gas Development Company Limited (OGDCL), Rs 4.280 billion from Karachi Electric Supply Company (KESC), Rs 460 million from National Logistic Cell (NLC) and Rs 907 million from Pakistan Railways.
At present Pakistan's leading fuel supplier company's overdue amount has reached Rs 165.239 billion. The company is to receive Rs 1.4 billion on account of audited price differential claim of High Speed Diesel (HSD), Rs 3.4 billion on account of price differential on Low Sulphur Fuel Oil & High Sulphur Fuel Oil (LSFO/HSFO), Rs 1.36 billion on account of price differential on imported PMG and Rs 8.6 billion price differential under GLMP.
PSO total payables to local refineries are: Rs 80.178 billion at present including Rs 27.555 billion to Pak-Arab Refinery Limited (PARCO), Rs 15.773 billion to Pakistan Refinery Limited (PRL), Rs 9.4 billion to National Refinery Limited (NRL), Rs 23.806 billion to Attock Oil Refinery Limited (ARL), Rs 2.66 billion to Bosicor and Rs 1.103 billions to others.
Overdue payments of the local oil refineries to the company have soared to Rs 69.450 billion. Sources said that the local oil refineries are unable to operate on full capacity due to non-payment by the government. If LC payment of Rs 81.328 billion, which the company has to pay to Kuwait Petroleum Company (KPC) and other international fuel supplying companies is included, total liabilities of the company will swell to Rs 161.506 billion.