I experienced the same problem a few months ago with my wifes 95 6. 5 turbo Suburban (short trip driven for 2 years). I checked all injectors for amperage, changed fuel filter and still the problem of smoke on start up was there. I went through three gallons of P&S fuel additive on a trip from Illinois to Alaska. Problem was gone. I believe that the injector tips were dirty and dribbling on start up. The four days of running cleaned everything up. Engine now has 110,000 miles on it and has never run so good getting 17 mpg loaded up heavy.
The 94 6. 5 turbo does have the oil pressure switch that will allow the frame mounted inline boost pump to operate. If you hear the pump running a few seconds after shutdown, everything is ok with the switch. If you do not hear it, get a new oil pressure switch. (you will need a special socket to get it out. Get it at any NAPA store)