The total outstanding dues owed to Pakistan State Oil (PSO) across various sectors have surged to Rs 786 billion, according to sources. The import bill for Re-gasified Liquefied Natural Gas (RLNG) has exceeded Rs 506 billion, with Sui Northern Gas Pipelines Limited (SNGPL) being the largest debtor, owing Rs 506 billion for LNG supplies.

The power sector's dues have also climbed past Rs 186 billion, compounding PSO's financial difficulties. Additionally, Pakistan International Airlines (PIA) has yet to settle Rs 28.75 billion in dues owed to PSO.

The recent depreciation of the Pakistani rupee has placed an additional burden of Rs 88.84 billion on the government. Despite these massive outstanding debts, only Rs 10 billion has been paid to PSO in the past month, sources revealed.

Meanwhile, the government has postponed the decision to privatize major state-owned energy entities, including PSO, Pak Arab Refinery Company (PARCO), and the Sui gas companies. The Petroleum Division submitted a summary to the Cabinet Committee, recommending that the federal government take the final decision regarding the privatization of these companies.

The summary outlined several challenges that must be addressed before proceeding with the privatization process. A key concern raised is the potential impact on existing LNG agreements if PSO is privatized. The report stressed the importance of thoroughly evaluating these complexities before making any final decisions.