ISLAMABAD (APP) The public sector company-Pakistan State Oil(PSO) is hardly managing to continue smooth supply of fuel in the face of staggering receivables of over Rs 158 billion against different entities. We are going through a tough time at the moment, finding it hard to ensure uninterrupted flow of fuel supply when the entities in power sector and especially the Pakistan Railways have adopted piece-meal approach in repaying our dues accumulated to Rs 900 million, the companys official told the news agency. The source hoped the PSO would be receiving a cheque valuing Rs 250 million on Monday from the Pakistan Railways whose cheques were often dishonoured for no-availability of funds in its accounts. The official hastened to add the government was needed to inject adequate funds into the Pakistan Railways to keep its wheel moving and enable it continue payment in future on regular basis. Recently, the PSO had to cut off fuel supply to power sector entities including WAPDA, Kapco and Hubco that failed to pay their payable- Rs 47 billion, Rs 28.86 billion and Rs 73.29 billion respectively. Giving details, the official said the PSOs receivables had swollen to Rs 158.495 billion as on March 24, including Rs 42.293 billion from Wapda, Rs 71.650 billion from Hubco, Rs 29.380 billion from Kapco, Rs 1.689 billion from PIA, and Rs 2.097 from KESC. If we do not get these dues we will not be able to pay Rs 95.318 billion to the refineries and Rs 52.849 billion to the international suppliers, the official said. The official said the PSO as the countrys largest energy company was cognizant of its responsibilities and had supplied furnace oil uninterruptedly to the power companies in the past. But the growing circular debt and mounting receivables forced the company to suspend supplies, the source said. However, the official added, despite financial problems, the PSO had put its plans in place including to own a refinery to make coverage more efficient and wide for the meeting the countrys growing energy needs. In view of its excellent performance, the company, the official said, had received wide appreciation and worldwide recognition for its excellent performance. In the first half of the financial year 2010-11, the company made high-time earnings in its history when after tax its earnings stood at Rs 7.13 billion in comparison with Rs 5.08 billion in same period of FY 2009-10 despite the circular debt which is badly affecting supply chain of the oil sector including the PSO. The company was honoured at the 27th Corporate Excellence Awards ceremony organized by the Management Association Pakistan (MAP). Similarly, the company was ranked 20th in the 7th Annual Dinar Standard survey published in the top 100 Businesses of the Muslim World, recently. We consider these achievements as recognition of PSO managements vision towards excellence combined with the dedication and hard work of all the employees, the official said.