Pakistan State Oil (PSO) has said that it is not a good experiencing about a liquidity crisis because Karachi Electric Supply Corporation (KESC) has not made good on devoted payments for fuel supplies sales to power utility. It is making regular supplies to KESC and has given approximately 47,000 tons of furnace oil in July unaided, PSO said.
According to the agreement of KESC and PSO, there is only 30,000 tons limit in a month but due to the shortage of Gas from Sui Southern Company, the credit line was crossed from 30,000 to 50,000 tons, PSO said.
On the other hand KESC speaks man said we are in the limit, KESC limits of furnace oil is 75,000 tons. He further said KESC has plane of Rs1.7 billion.