The Auditor General of Pakistan (AGP) has disclosed that over Rs669billion financial irregularities uncovered in the Pakistan State Oil (PSO).
According to details surfaced on Wednesday, the AGP has issued an audit report 2024-25. The report said the PSO has failed to recover Rs467billion from various departments. Those included in the departments were bulk consumers, cardholders, retailers and southern electric power.
Among those who did not made payments including the Pakistan National Shipping Corporation (PNSC). According to the AGP, the cardholders and retailers have to pay Rs439billion.
The PSO could not even managed to recover Rs25billion from the retailers in 25 days of billing.
The AGP report disclosed that the PSO kept on relying on loans as it could not manage to recover the payments from the customer departments. The report has also said that the financial expenditures of the PSO has been increased by Rs12.55billion in 2022-23, leading to the aggregate increase of almost Rs56billion.
