PSO receives Rs60 billion from power companies

KARACHI: Pakistan State Oil (PSO) has said it received Rs60 billion as partial settlement of receivable from power sector companies.

In a notice to Pakistan Stock Exchange (PSX) on Monday, the state run oil marketing company said that it had received an aggregate amount of Rs60 billion as partial settlement of receivables related to certain power sector companies on March 01, 2019 after close of normal business hours.

Consequently, PSO’s principal receivables balance from these power sector companies has reduced accordingly. The amount received by the company has been used for partial repayment of its bank borrowing, the company said.

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