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Cash-starved PSO halts jet fuel supply to PIA

Cash-starved PSO halts jet fuel supply to PIA

KARACHI: After refusal of the refinery to provide jet fuel on credit, the Pakistan State Oil (PSO) suspended jet fuel supply to Pakistan International Airlines as it runs out of stock.

As per reports, the state oil company, which provides jet fuel to nine airports in the country, has asked the Petroleum Ministry to intervene and convince the refinery to continue fuel supply to the 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.