ISLAMABAD: Federal Government may take immediate measures to resolve the issue of circular debt of Pakistan State Oil (PSO) to save the company from ruin, National Assembly Standing Committee on Petroleum and Natural Resources observed in its meeting held on Thursday.
Chairman of the Committee Sardar Talib Hussan Nakai presided over the meeting. The Committee showed its concern over circular debt and feared that if this issue was not resolved the state owned strategic company would meet with disaster; resultantly spreading chaos and confusion among the general public.
Earlier briefing the committee, Managing Director PSO informed that circular debt problem is due to power sector as this sector is not making timely payment; however PSO is bound to make continuous supplies to power sector in national interest to avoid power crisis.PSO demanded immediate release of Rs 80 billion in order to keep the company afloat.
The Committee also constituted a Sub committee under the Convenership of Chaudhry Muhammad Barjees Tahir, MNA " to examine the inquiry report and help PSO to recover the amount from the management of Zaqsofts and CC Technologies; imposed as penalty because of supplying low priced computer accessories to PSO at exorbitant rates." The Sub Committee would also examine the cases of recruitment made in PSO since 2001 to till date.
The meeting was attended by Nawab Ali Wasan MNA, Mian Abdul Haq alias Mian Mitha, MNA , Nawab Muhammad Yusuf Talpur, MNA, Syed Anayat Al Shah, MNA, Chaudhry Asghar Ali Jatt MNA, Sheikh Aftab Ahmed MNA,Chaudhry Muhammad Barjees Tahir MNA, Abdul Waseem MNA, Syed Haider Ali Shah MNA,Muhammad Usman Advocate MNA and the senior officers of Ministry of Petroleum and Natural Resources and PSO.
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