ISLAMABAD               -            The circular debt by Pakistan State Oil (PSO) towards various government entities has reached Rs 339 billion, official document revealed yesterday.

The Sui Northern Gas Company Limited is the single government entity which owes the largest amount of Rs 103.3 billion to PSO, the documents available with The Nation reveals.

The total major receivables from various government owned entities are Rs 339.1 billion. The overdue amount of Rs 215.4 billion, not due amount of Rs 3.7 billion, late payment surcharge of Rs 86.9 billion and LPS to be billed Rs 33.1 billion.

The Sui Northern Gas Pipeline (SNGPL) owes Rs 103.3 billion for the Re-liquefied Natural Gas (RLNG) supplied by the PSO. The amount includes the overdue amount of Rs 85 billion and LPS to be billed Rs 14.9 billion. The late payment surcharge is not part of the dues.

Similarly, the power sector including GENCOs/CPPA, HUBCO and KAPCO receivable reached Rs 198.7 billion. The dues include the overdue amount of Rs100 billion, late payment surcharge of Rs 81.3 billion, LPS to be billed Rs 17.4 billion.

The government owned power Generation Companies and Central Power Purchase Agency (GENCOs/CPPA) owes Rs 131.8 billion. The dues include the overdue amount of Rs 74.7 billion, late payment surcharge of Rs 44 billion, LPS to be billed Rs 13.1 billion. The HUBCO owes Rs 51.1 billion, which includes the overdue amount of Rs 23.3 billion, late payment surcharge of Rs 23.5 billion, LPS to be billed Rs 4.3 billion. KAPCO owes Rs 15 billion which includes the overdue amount of Rs 2 billion, late payment surcharge of Rs 13.8 billion.

The receivable from PIA and government of Pakistan is Rs37.1 billion. Pakistan International Airlines owes Rs 19.8 billion which includes the overdue amount of Rs 13.1 billion, not due Rs 0.3 billion, late payment surcharge of Rs 5.6 billion and LPS to be billed Rs 0.8 billion. The price differential claims from government of Pakistan are Rs 9.6 billion while exchange rate differential on FE 25 loan is Rs 7.7 billion.

The payables to the refineries, L\C, KPC and SBLC LNG payments by PSO are Rs 23.1 billion. The payables amount include Rs 10.3 billion by refineries and Rs 12.8 billion by L\C,KPC and SBLC LNG.