PR’s Rs300mn cheque to PSO bounces

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GMT - 3 Hours PR’s Rs300mn cheque to PSO bounces

Post by yaad on Wed Sep 21, 2011 9:25 pm

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KARACHI: A Rs300 million cheque that Pakistan Railways (PR) wrote to Pakistan State Oil (PSO) has bounced again, Geo News reported Wednesday.

According to sources Pakistan Railways wrote a Rs300 million check to PSO as a payment for the diesel bought which bounced after PSO tried to turn it into cash. Despite this PSO has not pulled the plug on Railways and is continuing with its fuel supplies to the national train service.

Sources added that PSO has mounted pressure on the Railway authorities to clear its dues as soon as possible.

It is estimated that Pakistan Railways owes PSO around Rs1.2 billion.

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