PSO receives Rs150m from PIA, debt recovery continues

MG News | October 18, 2023 at 09:16 PM GMT+05:00

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October 18, 2023 (MLN): Pakistan State Oil Company Limited (PSX: PSO) is making progress in recovering its outstanding dues from Pakistan International Airlines (PIAC), having received a payment of Rs150 million today.

It is important to mention that this inflow follows the recovery of Rs950m last week and an additional Rs100m on Monday.

However, PIAC still has a substantial outstanding debt of Rs1.814billion 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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