PSO makes headway in debt recovery from PIAC

MG News | October 16, 2023 at 05:27 PM GMT+05:00

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October 16, 2023 (MLN): Pakistan State Oil Company Limited (PSX: PSO) continues to recover its outstanding dues from Pakistan International Airlines (PIAC), with a payment of Rs100 million received today.

To note, Pakistan’s energy giant received an amount of Rs950m from the national carrier last week.

However, PIAC still has a substantial outstanding debt of Rs 1.964 billion to PSO, a crucial factor in maintaining a steady supply of jet fuel for its operations.

To recall, PSO had suspended the fuel supply amid PIAC’s inability to settle its dues, which, in turn, resulted in the cancelation of several PIA flights.

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