The ministry of petroleum has failed to constitute the board of management of Pakistan State Oil (PSO).
The lady spokeswoman of the PSO told that the PSO was being run without the board of management, however, all the powers of board of management had been referred to the managing director (MD) through executive order.
It has been policy of the PML-N government that it always delays the appointment of heads of institutions due to which national exchequer bears major financial loss.
The PSO imports 74 percent of petroleum products worth billions of rupees and these financial matters have been handed over to a single person. As per rules and regulations, the constitution of board of management was necessary.