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Rs1.4tr revenue company PSO stops jet fuel supply to PIA

Rs1.4tr revenue company PSO stops jet fuel supply to PIA

KARACHI: Pakistan State Oil (PSO) has stopped supply of jet fuel to the Pakistan International Airlines as it runs out of stock.
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.