ISLAMABAD - The fiscal tragedy of the cash strapped Pakistan State Oil (PSO) deepened further to possible default of fuel suppliers as receivables on Tuesday swelled to Rs 164.65 billion leading to disruption in fuel supply chain across the country. Though Ministries of Water and Power and Finance assured to provide Rs 30 billion by Monday (day before yesterday) yet PSO could not receive single penny to run the system. PSO is near to default that will lead to disrupt supply chain around the country, which might further badly affect the awarded tender of one million tons for supply of fuel planned for March and April, spokesperson of PSO said adding that we could only give ultimatum of default that would result in complete disruption of fuel supply chain. PSO was hoping to receive at least committed amount of Rs 30 billion but no money was disbursed to PSO by Monday evening. She said that the tender was awarded after the assurance of Rs 30 billion receipt. It may be mention that the tender was awarded for 14 cargoes of 65,000 tons of high sulphur fuel oil and another six cargoes of 60,000 tons of lower sulphur fuel oil (LSFO). PSO has further awarded a tender for three jet fuel cargoes of 16,500 tons, for March-April delivery. Despite commitments, the government has not released funds to PSO on account of supply of fuel to Power sector while leaving the state run oil giant in deep financial crisis. PSO spokesperson said the company 's receivables have reached all time high level of Rs 164.650 billion on Tuesday mainly because of non-payment of dues by power sector. On February 17, PSO suspended supply of furnace oil to power entities including Wapda, Hubco, OGDC, PIA, KESc and Kapco have yet to pay billions of rupees to the PSO for purchase of furnace oil. Oil refineries have reportedly reduced the credit supply to PSO by 58 percent due to non-payment. At present PSOs refinery receipts reportedly stood at only 73,100 tons which are lower than the last year. However, as on March 1st, 2011, PSO receivables against different clients stand at; Wapda Rs 50.6 billion, Hubco Rs 70.5 billion, Kapco Rs 28.8 billion, PIA Rs 1.37 billion, OGDC Rs 232 million, KESC Rs 1.95 billion, financial charges from PIA Rs 1.017 billion, price differential claims (PDC) on High Speed Diesel (HSD) Rs 1.382 billion and PDC on imported PMG Rs 4.68 billion. PSOs payables stand at Rs 132.49 billion to local as well as international fuel suppliers as: Parco Rs 31.51 billion, PRL Rs 11.54 billion, NRL Rs 33.6 billion, ARL Rs 33.6 billion and Bosicor Rs 4.6 billion. PSO is to pay Rs 41.31 billion to KPC and fuel oil suppliers for upcoming imports or on account of LC payments.