Govt decides to release Rs30bn to PSO this week

News Image

MG News | January 17, 2024 at 11:02 AM GMT+05:00

Join our Whatsapp channel
Add Mettisglobal as a Trusted Source on Google Google
0:00

January 17, 2024 (MLN): The Ministry of Finance will release an amount of Rs30 billion to Pakistan State Oil Company Limited (PSX: PSO) during this week, according to sources.

Sui Northern Gas Pipelines Limited (PSX: SNGP) is set to receive an amount of Rs5 billion to make payments to the oil giant.

Meanwhile, the remaining Rs25bn in subsidies earmarked for domestic consumers and fertilizer plants will also be released this week.

Accordingly, SNGP will pay PSO an amount of Rs30bn on an immediate basis.

The sources further informed that the subsidy to household consumers and fertilizer plants is included in the budget allocation.

Moreover, the federal cabinet is set to decide next week on granting two power plants to PSO, aiming to reduce revolving debt. Once approved, the controlling stake of both power plants will be transferred to PSO.

This development is expected to slash the circular debt in the gas sector by approximately Rs100bn and a total of Rs130bn would be reduced from PSO's outstanding dues.

Copyright Mettis Link News

Related News

News
Petrol price rises Rs1.19, diesel falls Rs1.91 from Oct 7
News
Digital payments dominate Pakistan’s retail transactions with 92% share
News
Pakistan’s IT exports to UAE jump 42% amid growing tech ties
Name Price/Vol %Chg/NChg
KSE100 168,460.11
192.37M 		1.56%
2592.79
ALLSHR 101,751.43
430.36M 		1.33%
1336.31
KSE30 50,346.10
79.00M 		1.67%
827.62
KMI30 242,001.97
76.88M 		1.89%
4490.69
KMIALLSHR 65,941.73
271.26M 		1.41%
917.47
BKTi 46,833.75
15.09M 		1.40%
648.42
OGTi 34,732.22
6.69M 		2.37%
802.83
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 85,890.00 87,040.00
85,350.00 		-115.00
-0.13%
BRENT CRUDE 101.28 101.32
97.06 		0.96
0.96%
RICHARDS BAY COAL MONTHLY 128.50 0.00
0.00 		1.40
1.10%
ROTTERDAM COAL MONTHLY 144.40 145.45
144.40 		0.55
0.38%
USD RBD PALM OLEIN 1,167.50 1,167.50
1,167.50 		0.00
0.00%
CRUDE OIL - WTI 90.00 90.05
86.86 		0.57
0.64%
SUGAR #11 WORLD 20.87 20.95
20.58 		0.14
0.68%
Chart of the Day
Latest News
October 07, 2026 at 12:22 AM GMT+05:00

CCP approves Fatima Fertilizer-Agritech transaction

October 07, 2026 at 12:16 AM GMT+05:00

Petrol price rises Rs1.19, diesel falls Rs1.91 from Oct 7

October 06, 2026 at 06:57 PM GMT+05:00

Govt domestic debt, liabilities rise 8.5% YoY in August

October 06, 2026 at 06:46 PM GMT+05:00

NSS net mobilization rises 12% YoY

October 06, 2026 at 06:31 PM GMT+05:00

Central govt debt surges by 7% YoY in August

Top 5 things to watch in this week
Workers' Remittances
Central Government Debt
Savings Mobilized by National Savings Schemes
International Reserves/Foreign Currency Liquidity
MTB Auction
Previous
Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg