September 14, 2018 (MLN): Pakistan State Oil, the premier state-owned petroleum corporation involved in the marketing and distribution of petroleum products, has seen its receivables go up to Rs 334 billion as the issue of circular debt for power companies rattles the incoming government.

According to sources close to the matter, PSO is owed receivables up to Rs 272 billion from power companies, while the Government of Pakistan on account of Pakistan International Airlines Corporation (PIA) owes Rs 28 billion to the petroleum corporation.

Sui Northern Gas Pipelines Limited too owes a sum of Rs 23.3 billion to PSO, on account of purchases of Liquefied Natural Gas (LNG) from PSO.

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