Rs41.1 billion to be given to PSO

Prime Minister Yusuf Raza Gilani decided to provide an immediate financial relief of Rs41.4 billion to PSO on Tuesday.

ISLAMABAD: Prime Minister Yusuf Raza Gilani decided to provide an immediate financial relief of Rs41.4 billion to Pakistan State Oil (PSO) on Tuesday.

The decision was taken at a special meeting to review the circular debt situation arising out of the pending payments to PSO.

According to the decision, the ministry of finance will arrange an amount of Rs31.4 billion while PEPCO will pay Rs10 billion.

The prime minister directed all stakeholders, particularly provincial governments to honour their commitments and pay their outstanding dues of electricity to help reduce the circular debt.

He also directed that the circular debt be monitored on a daily basis.