ISLAMABAD - Viewing the gravity of challenges being faced by cash starved Pakistan State Oil as its receivables jacked up over Rs 173 billion, the Federal Board of Revenue finally notified to restore the Companys bank accounts with immediate effect. The Federal Board of Revenue had frozen the bank accounts of PSO for failing to meet its tax obligations. As the largest energy company in the country and being highest contributor to the exchequer, PSO failed to meet tax obligations due to ever soaring receivables and increasing circular debt. According to PSO, Ministry of Petroleum also supported the Company in its talks with FBR. The tax authorities apprised that their decision to freeze the accounts of PSO would lead to the international suppliers mistrust in doing business with Pakistan and its national companies. It is not out of place to mention that though the receivables continue to rise and the local refineries are not giving any product to the Company yet PSO has a responsibility to make payments to their international suppliers in order to ensure uninterrupted fuel supply. Therefore currently the Companys reliance on imports has increased. The PSO has urged the power sector to make immediate payments so that the company could fulfil its international commitments and meet its tax obligations.