PSO recovers Rs625m from PIAC in two days

MG News | October 13, 2023 at 03:38 PM GMT+05:00

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October 13, 2023 (MLN): Pakistan State Oil Company Limited (PSX: PSO) has made notable progress in recovering outstanding dues from Pakistan International Airlines (PIAC), totaling Rs625 million within just two days.

Pakistan’s energy giant has received an amount of Rs125m from PIAC today, following the Rs500m it received yesterday, further reducing the debt owed by the national carrier.

To note, 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.

As of now, Pakistan International Airlines still owes around Rs1.75 billion to PSO for the current month in connection with their current jet fuel supplies.

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