ISLAMABAD-Pakistan State Oil has asked the Finance Division to immediately release Rs154 billion, as its receivables against various government entities have reached Rs 755.026 billion, it was learnt reliably here. The outstanding dues include Rs 551.948 billion of the principal amount and Rs 203.078 billion of late payment surcharge (LPS), official source told The Nation. A major portion of the outstanding dues is owed to Sui Northern Gas Pipeline Limited, for the supply of LNG, followed by generation companies (Gencos), power sector and Pakistan International Airlines (PIA).
SNGPL owes Rs 451.726 billion, which includes Rs 354.178 billion of principal amount and Rs 97.548 billion of LPS, on account of imported liquefied natural gas (LNG). In addition, the receivable from power sector including Genco-I, Genco-II, CPPA, HUBCO and Kapco stand with a substantial debt of Rs 183.472 billion. The amount includes Rs 89.874 billion of principal amount and Rs 93.598 billion of LPS, said the source.
Receivable from Pakistan International Airlines (PIA), the Government of Pakistan and exchange rate differential on FE 25 loan is Rs 119.828 billion. The dues include Rs 107.896 billion of principal amount, Rs 11.932 billion of LPS.
PIA receivable stands at Rs 25.424 billion. The source said that in a letter to Finance Division, PSO has demanded the immediate release of Rs 154 billion to meet its responsibilities related to the payments to refineries and LNG purchase