Karachi: Pakistan State Oil (PSO) has floated tenders for the import of over 1.1 million tons fuel which would be delivered in February and March 2012.
According to Alfalah Securities Limited, tender details, PSO would procure 210,000 tons of Motor Gasoline (Mogas) for February-March 2012 while, 650,000 tons of High Sulphur Fuel Oil (HSFO) would be imported during the same period, in order to meet the demand of thermal power plants. Furthermore, the Oil marketing company would also import 130,000 tons of Light Sulphur Fuel Oil (LSFO) each during February and March 2012.
PSO has also cancelled an earlier tender and has not invited any further offers for the import of jet fuel as a consequence of abolition of NATO supplies in Afghanistan. The decision of fuel import by PSO would further increase the liquidity crisis being faced by the company despite considering the fact that their payables have reached to a whopping PKR 166.886 billion.