October 8, 2020: The Federal Minister for Energy (Petroleum & Power Division), Mr Omar Ayub Khan and Special Assistant to the Prime Minister (SAPM) on Petroleum, Mr Nadeem Babar accompanied by Secretary Petroleum, Mian Asad Hayaud Din visited the country’s flagship oil company, Pakistan State Oil (PSO). Chairman, PSO Board of Management, Mr Zafar I. Usmani, Chief Executive Officer & Managing Director PSO, Syed Muhammad Taha and the Company’s senior management welcomed the honorable guests at PSO’s head office in Karachi.
The Federal Minister Mr. Omar Ayub Khan chaired the meeting wherein MD PSO briefed the dignitaries on the Company’s operational and marketing performance, regulatory environment, organizational dynamics, strategic thrust, future plans and key achievements including the launch of Euro 5 standard fuels and the establishment of an electric vehicle charging unit in Islamabad.
The Federal Minister lauded PSO’s role during the fuel crisis amid the pandemic when the national flag bearer fulfilled its responsibility by ensuring an uninterrupted supply of fuel across the nation. He also appreciated PSO’s environment friendly fuel initiatives and encouraged further exploration of biofuels and cleaner energy solutions. In view of the changing business landscape, the Minister stressed on embracing new technologies specifically electric vehicle charging and automation. He added that Government of Pakistan (GOP) is introducing flexible business policies to galvanize innovation and growth in the energy sector.
During the meeting, value creation plans entailing new ventures and business opportunities including diversification and business integration in refining projects were also discussed.
SAPM on Petroleum, Mr Nadeem Babar appreciated the oil market leader’s initiatives and said that PSO is setting benchmarks and leading the sustainable energy revolution in the country by introducing environment friendly fuel choices. He expressed the Ministry’s support on PSO’s infrastructure expansion plans and resolution of key issues.
Secretary Petroleum, Mian Asad Hayaud Din acknowledged PSO’s role in driving the country towards a better future by taking initiatives in line with GOP’s policies and revolutionizing Pakistan’s energy landscape. He said that PSO’s long-term plans which also include the exploration of new business avenues to ensure sustainable growth.
Chairman PSO Board of Management, Mr Zafar I. Usmani and CEO & MD PSO, Syed Muhammad Taha reaffirmed PSO’s role as the national flag bearer and leader of positive change in Pakistan. The Company is committed to maximizing shareholder value, playing a key role in bringing GOP’s energy sector reforms to fruition, fulfilling its corporate social responsibilities and contributing to the overall progress of the country.