PSO investigates loss for awarding base oil tender contract – Alfalah Securities Limited

Karachi: The Pakistan State Oil (PSO) has started to investigate against a group of people within the organization who had caused a loss of USD 3 million (PKR 258 million) to the Federal Board of Revenue (FBR) for awarding a Base Oil tender to the highest bidder instead of the lowest.

According to Alfalah Securities Limited, the Ministry of Petroleum and Natural Resources has directed PSO to investigate into the matter and identify the culprits, who would be handed over to the National Accountability Bureau (NAB) for a trial.

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