ScienceNews (UPI) -- Pakistan is bracing for a major shortage of petroleum products as the Pakistan State Oil company moves closer to a financial emergency, a source suggested. PSO is on the verge of defaulting on its international payments as $190 million in debt is due to foreign suppliers. An official at the company told Pakistan's English-language Dawn newspaper that PSO was considering canceling a significant amount of oil imports. "The situation is very bad," the source said. "It has never been like this."