PSO spokesperson said that the refinery which provides jet fuel to PSO has refused to supply it on credit.
The state oil company, which provides jet fuel to nine airports in the country, has asked petroleum ministry to intervene and convince the refinery to continue supplying fuel to PSO.
For a company with sales revenue of Rs1.4 trillion, equivalent to 33% of the government’s budget outlay, PSO is a behemoth with an empty stomach. Responsible for 60% of country’s oil need, it often doesn’t have cash to pay off suppliers.
COMMENTS (5)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ
1714024018-0/ModiLara-(1)1714024018-0-270x192.webp)
Go Nawaz Go !!!
@OS: Just what makes you think that PIA/Steel mills are "valuable assets"??? These organizations could never survive on their own with their bloated payrolls and gross inefficiencies without endless government subsidies!
@haris: That is exactly why the government is letting PIA/Steel Mills deteriorate their performance and sustain losses. This will give them an opportunity to sell these valuable assets at penny price to their cronies.
House of cards - all the govt businesses seem to be dead beats who don't pay their bills - borrowing from one another. All the while Dar says "no problem".
Why don't they privatize PIA?? Its just so freaking embarrassing for an airplane that once reigned the skies descend into such a pathetic state. Can you ever imagine this sort of this happening to emirates or etihad? Really Sad.