The cash strapped Pakistan State Oil (PSO) has supplied fuel to power sector worth Rs58 billion from March 1, 2011 till to date, Business Recorder has learnt. As on April 22, 2011, PSO receivables had touched Rs183.2 billion due to non-payment of dues by power sector against payables of Rs145.6 billion to local refineries and international fuel suppliers.
Sources maintained that PSO was still facing constraints regarding fuel supply from oil refineries due to non-payment of dues.
Meanwhile according to statement issued by PSO on Sunday, despite the receivables standing at approximately Rs182 billion, PSO under the leadership of Irfan Qureshi, has unflinchingly stuck to its commitment of delivering furnace oil to the power sector. The company is working round the clock to ensure uninterrupted fuel supplies to ameliorate the power situation in the country. The company is maintaining supplies of approximately 20,000 MTs to the power sector. On a daily basis 7000 MTs are being supplied to Hubco, 4000 MTs to Kapco, 4000 MTs to KESC, 2000 MTs to IPPs and 3000 MTs to Gencos. Given the strike of APOTOA (All Pakistan Oil tankers Owners Association), PSO management has made alternate arrangements to ensure supplies to power entities especially to Genco (Jamshoro).
The Company maintains that there are adequate reserves of furnace oil and the required levels of stocks are in transit. All necessary measures are being taken to ensure that the fuel supplies reach their destinations on time to meet the daunting energy needs of the country. The Managing Director, Irfan Qureshi is personally supervising the product movement to ensure that there are minimal power outages in the country.
Pakistan State Oil, as the largest energy company in the country is cognisant of its responsibilities and continues to meet the energy needs of the nation in a responsible and timely manner.