Tag Archives: ECC okays Rs50bn for PSO to stay afloat

ISLAMABAD: Amid looming international default threat on national fuel supplier — Pakistan State Oil (PSO) — owing to a record Rs775 billion receivables, the government on Tuesday approved extending sovereign guarantee for Rs50bn commercial borrowing and fixed Rs8,500 per 40kg minimum intervention price for raw cotton known as phutti to revive a faltering cash crop. The decisions were taken at …

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