ISLAMABAD: The Pakistan State Oil (PSO) has initiated an inquiry into the import of huge quantity of substandard oil worth $23 million, after suspending its General Manager (Supply) Tariq Razvi.
A ship transported 65,000 tons Low Sulfur Furnace Oil (LSFO) at the Karachi Port on April 2 for power generation plants, which was later found substandard.
PSO spokesperson Marium Shah confirmed the import of substandard furnace oil, saying an inquiry had been initiated into the matter. She said a cargo of 65,000 Metric Tonnes (MTs) of LSFO, which arrived on 2nd April, 2015 was off-specification. However, the cargo was accepted for delivery despite the fact that the cargo had failed the load port survey.
Marium insisted that the management was initially misled that the fuel had been on-specification at the time of its purchase and the change in specification occurred during transit. Later, the management was told that the fuel supplier was willing to meet any damages for providing the off-specification fuel. Upon identification of this deceitful and unlawful activity, PSO initiated an enquiry and had suspended the concerned official.
