According to official data, the circular debt in Pakistan’s gas sector has reached Rs2,897 billion, despite recent rises in gas prices. Late payment surcharges totaling Rs814 billion are included in this loan.
The documents provide important debt information for well-known industry players. The circular debt held by the Oil and Gas Development Company Limited (OGDCL) is Rs 1,133 billion. The circular debt of Pakistan Petroleum Limited (PPL) is more than Rs800 billion. Pakistan State Oil (PSO) owes Rs816 billion in circular debt, which is a significant amount as well.
PSO is owed more than Rs515 billion by the Sui Northern Gas Pipelines Limited (SNGPL). Additionally, the PSO has loaned the Central Power Purchasing Agency (CPPA) generation companies more about Rs152 billion in oil.The PSO’s own debt of Rs251 billion to different refineries makes the network of debt even more intricate.
Apart from these monetary problems, gas theft is still a major national concern.
