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PSO likely to default on payments to suppliers

Source: The News | 14-02-2013

Pakistan State Oil (PSO) will likely default on payments to its international fuel suppliers if it fails to arrange Rs15 billion today, Geo News reported.

According to reports, last week, the PSO had urged the federal government to release Rs15 billion so that it could save itself from defaulting on its LC payments and square with its creditors.PSO’s troubles have multiplied since two banks refused to issue letter of credit to the state-run oil company.Experts say PSO’s failure to pay up will have serious repercussion for the economy of the country and may aggravate the prevailing energy crisis.

Fertilizer makers face over 2.7m tons production loss

Source: The Nation | 19-12-2012

The gas supply to four Sui Northern Gas Pipelines Limited (SNGPL)-based fertilizer plants has reduced substantially as compared to already curtailed supplies of 2011. Therefore, even though there is sufficient capacity in the country, about 1.4 million tons of urea is needed to be imported during the year. All four SNGPL-based fertilizer suffered major losse..... Read more

New management to turn PIA around

Source: The Nation | 28-12-2012

The PIA Chairman Asif Yasin Malik said that new management has taken over airline at a critical point whose agenda is to turnaround airline. While addressing to PIA officers and staff on Thursday at the PIA Training Centre Auditorium in connection with the management’s commitment to change face of airline by April 2013, he categorical..... Read more

Pakistan eyes $1b exports to UAE

Source: Dunya News | 28-02-2013

Pakistani exporters can easily double their food exports to the UAE from 500 million to 1 billion as the Gulf country needs all kinds of foodstuff, from fresh vegetables to meat and frozen food, Pakistan s Ambassador to the UAE Jamil Ahmed Khan told Khaleej Times at Gulfood 2013. Around 30 exhibitors are representing the country at the food exhibition..... Read more

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