PSO plans to build storage in Punjab

Managing Director of Pakistan State Oil (PSO), Irfan Qureshi, has said that due to circular debt, PSO is unable to construct storage in Punjab. However, the company is now planning to construct storage in Punjab at a cost of Rs8 to Rs10 billion (US$92.85 million-US$116.06 million). Construction work is expected to start from March 2011. Elaborating on the reasons behind petrol shortage in Punjab, Qureshi said it was due to the shutdown of Parco refinery from August 7 to September 19. He said that Parco has restated its operations. (September 22, 2010)