PSO to write letter to govt to help the entity avert default.

The article discusses the dire liquidity situation of the Pakistan State Oil (PSO) and the steps being taken to avert default. The PSO's receivables have reached a record high of Rs 852 billion, with a major contribution from SNGPL. The power sector owes PSO Rs 187 billion, and there is also an outstanding exchange loss of Rs 57 billion. The PSO is seeking government intervention to address its liquidity crisis and avoid default on international payments. The PSO's Board of Management has decided to write a letter to the government outlining their requests for support, including immediate cash injection, strict directives to prevent further deficits, and reimbursement of outstanding amounts. The government representatives have assured that they are aware of the company's issues and will make efforts to prevent default. [Extracted from the article]