SNGPL payment of Rs 85 billion to PSO

Islamabad (May 27): Sui Northern Gas Pipelines Limited (SNGPL) has asked the federal government for the payment of Rs 85 billion to clear the scheduled payment of Pakistan State Oil (PSO) till May 31, 2024, besides equalization of gas rates at par with Sui Southern Gas Company (SSGC).

Severing financial challenges being faced by SNGPL to meet payment obligations towards RLNG and indigenous gas supply chain.

The receivables of PSO against SNGPL is Rs 528 billion including late payment surcharge of Rs 147 billion till May 2024.

SNGPL noted that against the committed amount for RLNG supplies for the month of May-24 Rs 25 billion, SNGPL has so till May 16, 2024 paid Rs 41 billion to PSO, still leaving balance of Rs 84 billion.

According to SNGPL, all stakeholders must play their role in discharging their obligations to ensure continuity of RLNG supply chain, avoiding default of PSO and as part of this arrangement, permanent long-term, solutions are required to address the situation. In this regard timely discharge of commitment by power and SSGCL and release of pending subsidies are crucial for SNGPL to make timely payment of balance amount to PSO till May 31, 2024 as per the plan.

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