06-11-2009, 02:04 AM
<b>PSO may default on LCs due to financial crisis</b>
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->ISLAMABAD : The state-run Pakistan State Oil may default on the letters of credit backed by sovereign guarantees and opened for the import of motor gasoline, furnace oil and diesel as the entity is in financial crisis because of circular debt in the energy sector.<!--QuoteEnd--><!--QuoteEEnd-->
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