PSO says it is working with govt and IMF on circular debt settlement plan

At its annual meeting, Pakistan State Oil (PSO) said it is coordinating with Islamabad and the IMF on a framework to clear circular-debt dues. The company reported that its receivables had stayed level since February 2024, while it collected about Rs10 billion from the Power Division after year-end and Rs26 billion from Sui Northern Gas Pipelines Limited (SNGPL) in the last quarter. PSO also said its petroleum market share climbed above 40%, citing improved product availability, disciplined pricing and more efficient logistics.

Management expects fuel sales to be largely steady, with high prices, public-sector spending restraint and electric vehicles and solar power limiting demand growth. PSO plans charging points at selected outlets and key routes, and targets completion of retail automation by March 2027, a step that could qualify it for higher OMC margins. Its QatarEnergy LNG arrangement earns a profit before financing expenses but records a loss once they are counted; PSO says it will stay in the business if structural problems are resolved. The company is also weighing investment options with Pakistan Refinery Limited (PRL), while talks on a White Oil Pipeline to Peshawar approach completion.