ISLAMABAD: Pakistan State Oil (PSO) has informed Petroleum Division that power plants are neither uplifting booked quantity of furnace oil nor making due payments.

PSO’s General Manager, Ghulam Murtaza Shah, in a letter of June 28, 2022 to Director General Oil(Petroleum Division) said that as per fuel (RFO) requirement for the month of June, 2022, PSO awarded requisite cargoes to meet the fuel requirement of power sector. However, as of June 28, 2022, PSO only supplied 173,306 MTs against supply plan of approx. 264,287 MTs with shortfall of approx. 90,981 MTs due to low upliftment/ order placement and delay in payments from respective Power Plants.

According to PSO, as a result, PSO stocks are on optimum level and ullage is not available to berth two (02) HSFO cargoes which are causing undue demurrages and upliftment from refineries is also being affected.

PSO has requested Director General Oil to take up the matter with MoE (Power Division) to advise the power plants to uplift product and built up stocks for upcoming Eid holidays and provide payments to PSO accordingly to avoid any untoward situation.

Copyright Business Recorder, 2022