Pakistan State Oil is facing mounting liquidity pressures as its total outstanding receivables surged to nine hundred and eight point seven billion rupees. The state-owned energy giant continues to navigate severe cash flow constraints resulting from chronic payment delays across the gas, power, public sector, and tax domains. According to the latest daily receivables and payables statement released by the company, a significant portion of the accumulated debt remains heavily overdue, highlighting the persistent impact of inter-corporate circular debt across the national energy supply chain.
The largest contributor to the oil marketing company’s outstanding balance remains Sui Northern Gas Pipelines Limited, which accounts for five hundred and thirty-five billion rupees, or nearly fifty-nine percent of the total receivables. These dues stem primarily from the continuous supply of re-gasified liquefied natural gas. Because the gas utility supplies imported RLNG to downstream power producers and industrial consumers, delays in recovering payments from end-users cascade directly onto the balance sheet of the primary fuel supplier, compounding systemic liquidity friction across the power and gas sectors.
Beyond the gas sector, Pakistan State Oil is awaiting the settlement of one hundred and sixty-eight billion rupees from power sector entities. Additionally, the state oil marketer holds claims of eighty-one billion rupees in tax refunds and adjustments pending with the Federal Board of Revenue, alongside sixty billion rupees related to foreign exchange rate losses. Other public sector liabilities include thirty-one billion rupees owed by Pakistan International Airlines, twenty-four billion rupees in price differential claims linked to past regional geopolitics and supply chain disruptions, and five point three billion rupees due from Pakistan Railways.
Of the cumulative nine hundred and eight point seven billion rupee receivable figure, approximately five hundred and twenty-five billion rupees are formally classified as overdue. Furthermore, the total includes three hundred and ten billion rupees in accumulated Late Payment Surcharges, reflecting the prolonged timeline over which various public and private sector debtors have deferred their obligations. These delayed inflows continue to constrain the state supplier’s operational flexibility and working capital management.
Compounding its financial position, Pakistan State Oil maintains significant outstanding liabilities totaling one hundred and fifty-seven billion rupees. This includes fifty-six billion rupees owed to domestic refineries for petroleum products already supplied to the distribution network, alongside one hundred and one billion rupees in pending letters of credit opened for importing crude oil, refined petroleum products, and liquefied natural gas. Among local refiners, Pak-Arab Refinery Company holds the largest claim at thirty point three four billion rupees, followed by Pakistan Refinery Limited at thirteen point eight eight billion rupees, National Refinery Limited at six point three seven billion rupees, and Attock Refinery Limited at five point five seven billion rupees.
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