KARACHI - Pakistan State Oil on Tuesday reduced furnace oil price by Rs 1023 per ton to Rs 44,680 as compare to the local refineries selling Rs 45,470 per ton. According to the spokesperson of PSO Mariam Shah, the decline in price was done due to the international trend of demand and supply that will be beneficial for the power sector. On the other hand according to the other sources, the receivables of PSO has reached to Rs 137 billion whereas the payables outstanding amount is Rs 82 billion for the local refineries and Rs 36 billion for the international suppliers. PSO is seeking up to 200,000 tonnes of gasoline for July-August delivery, a tender document showed on Monday. The volume is much higher than the 120,000 tonnes of gasoline it sought for the April-June quarter. In the same tender PSO is also seeking up to 49,500 tonnes of jet fuel for August-September delivery. The tender closes June 22 with bids valid until June 25. 90 percent of the power sector is attached with PSO which is more relying over the import as the local production is declining and future import seems difficult for the organisation due to the current receivable crisis, sources added.