NA body asks govt to release Rs80b immediately to keep PSO afloat

National Assembly Standing Committee asked government to take immediate measures to resolve issue of circular debt of the Pakistan State Oil (PSO) and help it in recovery of Rs80 billion outstanding dues to keep the company afloat. This direction was given by the committee in its meeting held in Karachi. Committee was chaired by Sardar Talib Hassan Nakai, says a press release of National Assembly Secretariat. Committee expressed grave concern over circular debt and feared that if the issue was not resolved the state owned strategic company would meet with disaster and in turn spreading chaos and confusion among the public.
MD PSO informed the committee that circular debt problem was resulting due to delay in payments by power sector. However, PSO was bound to make continuous supplies to power sector in national interest to avoid power crises. PSO demanded immediate release of Rs80 billon to keep the company afloat. Committee also constituted a sub-committee under convener-ship of Chaudhary Muhammad Barjees Tahir to examine the inquiry report and help PSO to recover the amount from management of Zaqsoft Technologies on which a penalty was imposed because of supplying low-priced computer accessories to PSO at exorbitant rates. The sub-committee would also examine cases of recruitment made in PSO since 2001 to till date. The meeting was attended by Nawab Ali Wasan , Mian Abdul Haq alias Mian Mitha, Nawab Muhammad Yusuf Talpur, Syed Anayat Ali Shah, Ch. Asghar Ali Jatt, Sheikh Aftab Ahmed, Ch. Muhammad Barjees Tahir, Abdul Waseem, Syed Haider Ali Shah and Muhammad Usman Advocate and by senior officers of ministry of petroleum and PSO.