Pakistan State Oil near bankruptcy: Report

April 20, 2013 22:56

Continuous cash flow problems due to a debt crisis in the energy sector has brought Pakistan's only public sector oil marketing company Pakistan State Oil close to bankruptcy, a report has said.

Pakistan State Oil Managing Director and Chief Executive Naeem Yahya Mir has warned that if the public oil company fails, its bankruptcy will not only shake the entire economy but also take down many banks.

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