Pakistan State Oil, the country’s largest oil marketing company, sought Rs30 billion from the government on urgent basis in view of fast-depleting furnace oil stock.
According to company sources, the house accepts only five-to-seven-day descent of the furnace oil – which is primarily utilized to get electricity.
To import furnace oil, the company has requested the government to release additional Rs30 billion for the purpose of maintaining sufficient stock and smooth supply.
But petroleum ministry sources said that the government released Rs20 billion for PSO just last week.
PSO receivables have touched huge Rs172 billion, company sources said.