Over Rs669bn financial irregularities revealed in PSO.
The Auditor General of Pakistan (AGP) has revealed over Rs669 billion in financial irregularities uncovered in the Pakistan State Oil (PSO).
According to details that surfaced on Wednesday, the AGP has issued an audit report for 2024-25.
The report said the PSO has failed to recover Rs 467 billion from various departments.
Those included in the departments were bulk consumers, cardholders, retailers, and Southern Electric Power.
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Among those who did not make payments was the Pakistan National Shipping Corporation (PNSC).
According to the AGP, the cardholders and retailers have to pay Rs439 billion.
The PSO could not even manage to recover Rs25 billion from the retailers in 25 days of billing.
The AGP report disclosed that the PSO kept on relying on loans, as it could not manage to recover the payments from the customer departments.
The report has also said that the financial expenditures of the PSO have been increased by Rs12.55 billion in 2022-23, leading to the aggregate increase of almost Rs56 billion.
