PSO signs Fuel Transportation Agreement with Pakistan Railways

News Image

By MG News | May 24, 2017 at 01:35 PM GMT+05:00

0:00

Islamabad: Pakistan Railways and Ministry of Petroleum signed Fuel Transportation Agreement (FTA) on Wednesday, which would increase fuel transportation activity of the railways. The agreement was signed by Syed Rashid Kamal, General manager logistics, PSO and Abdul Hameed Razi, Additional General manager Traffic, Pakistan Railways(PR).

The FTA has been approved from the legal advisers so that both the departments/institute could work in their legal right. Both parties have decided to enter into this Agreement top set out their respective rights and obligations in relation to the transportation of fuel from Keamari, Marshalling Yard Pipri, Bin Qasim, Mehmood Kot and Attock Refinery limited.PSO and Railways have settled for the fuel hauling to the various power companies and terminals.PSO shall make the imbursement of transportation charges to railways for the movement of fuel. Railways reserve the right to revise thje rates during the term of this agreement or any extended period.PSO shall make full payment of transportation charges to Railways of all booked consignments within 15 days from the time of booking.PSO shall endeavor to transport at least 2.0 million tons of fuel per year through Railway which is subject to demand placed by Ministry of Water and Power. This agreement has tenure of 5 years which can be extended after getting consent from both parties.

The fuel will be transported from Kaemari terminal to Muzzafargarh, Nishatabad, Piran Ghaib and Lalpir with the rate ranging , from Pipri Marshalling Yard and Bin Qasim Port to Muzaffargarh, Nishatabad,Piran Ghaib, Lalpir and Akhundabad, from Mehmood Kot to Chakpirana,Sihala and Tarujabba and from Attock Refinery, Morgah or Rawalpindi to Lalpir.

PR was purchasing petroleum products worth Rs 15 billion from the PSO for its own consumption whereas it has also been transporting petroleum products. The oil transportation of Pakistan State Oil (PSO) through Pakistan Railways has increased from four percent to 38 in three years. In the past, the percentage of the oil transportation of PSO through railways was only four percent which was very low that has now enhanced by concerted efforts of the Pakistan Railways. The increase has around 10 times more as to the previous transportation of oil through railways and efforts were underway to further enhance it.

 

Related News

Name Price/Vol %Chg/NChg
KSE100 122,109.01
200.88M
-0.10%
-116.35
ALLSHR 76,298.30
1,136.96M
-0.05%
-36.40
KSE30 36,950.40
82.00M
-0.02%
-5.70
KMI30 180,170.88
72.03M
-0.16%
-295.62
KMIALLSHR 52,240.43
405.80M
-0.13%
-68.07
BKTi 30,280.74
27.23M
0.27%
82.13
OGTi 27,490.62
10.51M
0.08%
21.64
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 106,280.00 109,305.00
106,280.00
-2640.00
-2.42%
BRENT CRUDE 74.31 74.85
72.66
1.08
1.47%
RICHARDS BAY COAL MONTHLY 88.00 0.00
0.00
-3.25
-3.56%
ROTTERDAM COAL MONTHLY 103.10 0.00
0.00
-0.65
-0.63%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 71.23 72.12
69.56
0.98
1.40%
SUGAR #11 WORLD 16.84 16.94
16.80
-0.10
-0.59%

Chart of the Day


Latest News
June 17, 2025 at 03:10 PM GMT+05:00

FTMM declares capital reduction


June 17, 2025 at 02:46 PM GMT+05:00

Govt plans rail access to Reko Diq by 2028


June 17, 2025 at 02:14 PM GMT+05:00

Sindh overhauls sales tax structure on services



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg