Tag: dues

  • National Refinery halts fuel supply to Pakistan State Oil over unpaid dues

    The National Refinery Limited (NRL) has decided to suspend the supply of fuel to Pakistan State Oil (PSO) due to the state-owned oil marketing company’s failure to make payments to the refinery.

    PSO has encountered a severe financial crisis, leading to outstanding payments owed to various sectors as a result of the supply of petroleum products.

    The amount owed to NRL by PSO is currently Rs3.469 billion. NRL has conveyed its decision to stop the supply of fuel to PSO in writing, according to a report by a national daily.

    Notably, PSO has recently stopped making payments to refineries, including those that supply diesel, gasoline, aviation fuel, furnace oil, and other petroleum products to the state-owned company.

    As per the company’s receivables, Sui Northern Gas Pipelines Limited (SNGPL) is the largest defaulter of PSO, with an outstanding amount of Rs492.102 billion as of March 8, 2023. In response, the Economic Coordination Committee of the cabinet has authorized a sovereign guarantee of Rs50 billion in favor of SNGPL for commercial borrowing on an immediate basis to meet PSO’s liquidity requirement.

    The power sector remains a significant source of difficulty for the state-owned oil marketing company, with outstanding payments of Rs178 billion, followed by Pakistan International Airlines (PIA) and the government of Pakistan, both of which owe PSO Rs92.5 billion. The total receivables, which have risen to Rs762.653 billion, include the most critical payment of Rs124.666 billion in late payment surcharge (LPS).

  • Twitter sued for failing to pay San Francisco office rent

    Twitter sued for failing to pay San Francisco office rent

    Elon Musk’s social media company is being sued by California Property Trust, the owner of the building where Twitter’s headquarters are located, for failing to pay $136,250 in rent.

    Bloomberg reports (via The Verge) that on December 16th, the company informed Twitter that it would be in breach of its contract for the 30th floor of the Hartford Building in San Francisco if it did not make the unpaid rent payment within four days.

    Twitter was said to have disobeyed the order by California Property Trust in a complaint submitted this week to the San Francisco County Superior Court.

    The New York Times reported on December 13 that Twitter had just stopped paying rent on all of its international locations to reduce costs. In addition, the business is being sued for failing to reimburse Musk for $197,725 in charter flights he took during his first week working for Twitter. In the same time frame, Musk is said to have bolstered Twitter’s legal team with “more than half a dozen” attorneys from SpaceX.

  • Excise, Taxation Department intensifies action against tax defaulting vehicle owners

    Excise, Taxation Department intensifies action against tax defaulting vehicle owners

    The Sindh government has issued a warning to car owners who have not paid their taxes. The Excise, Taxation, and Narcotics Control (ET&NC) Department has been conducting a road inspection for more than a week now. Authorities have inspected a total of 21,303 vehicles across the province.

    A total of 1,358 automobiles were seized for various reasons, with the paperwork of 1,958 vehicles also being confiscated during the road check, according to The News.

    Mukesh Kumar Chawla, the provincial minister in charge of (ET&NC), has planned a tax-collecting campaign. He went on to say that the campaign will run until June 3, after which the government will take action against automobiles that have not paid their taxes.

    Kumar issued a statement urging citizens to pay their taxes as soon as possible. Meanwhile, authorities claim to have recovered over Rs252 million in taxes from non-compliant car owners.

    The authorities had collected about Rs21.4 million in taxes from the car owners by the fourth day. Chawla has directed that non-compliant car owners be dealt with harshly by the authorities.