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Byline: ZAFAR BHUTTA
The Finance Ministry has refused to adjust the withheld money, amounting to around Rs 29 billion, by oil refineries on account of petroleum levy (PL) and discount on local crude oil against refineries dues pending under circular debt, Business Recorder has learnt reliably. Sources said that in a recent meeting on circular debt issue it was stated that oil refineries had withheld around Rs 24 billion on account of PL and Rs 5 billion discount on crude oil.
"We want adjustment of withheld money against pending amount on account of fuel supply to state run Pakistan State Oil (PSO)," sources said quoting refineries representatives. "But Finance …