PSO warns to cut fuel supply as dues cripples its liquidity

KARACHI: The Pakistan State Oil (PSO) warned on Friday to stop fuel supply to defaulting customers until outstanding receivables are recovered.

According to a PSO statement, the huge outstanding caused by non-payments from the power sector and airline has maimed company's liquidity position.

The piled up huge receivables of Rs 179 billion have crippled the company's liquidity position which may lead to an inevitable breakdown in the supply chain resulting in fuel shortage in the country.