PSO denies exclusive HSD import rights amid media reports

By MG News | February 07, 2024 at 04:28 PM GMT+05:00

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February 07, 2024 (MLN): Pakistan State Oil Company Limited (PSX: PSO) has denied media reports claiming that the company has been granted exclusive rights for the import of High-Speed Diesel (HSD).

According to a notice issued by the oil giant to PSX today, PSO has not yet been granted exclusive rights to import HSD on behalf of the industry.

However, the Ministry of Energy (Petroleum Division) has asked the Oil & Gas Regulatory Authority to evaluate a proposal for PSO’s exclusive imports for the industry and to consult other stakeholders in this regard.

Also, the statement that the government of Pakistan has allowed PSO-weighted average premiums on HSD imports is incorrect.

"There is no change in the pricing mechanism of HSD which is based on PSO premiums," the notice concludes.

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