Pakistan State Oil‘s (PSO) circular debt has been reported to be more than Rs 200 billion due to which the company does not have enough reserves to buy petrol.
According to the details, the state oil company does not have the financial resources to buy petrol while people are facing problems due to petrol shortage in Punjab. PSO had asked the government for Rs 72 billion to pay the indigenous oil refineries.
The government has not taken measures required to reduce the circular debt of the state owned oil giant.
