Tag: pso

PAC Panel Warns PSO to Clear Rs150m Dues to SWO or Face FIA/NAB Action

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psoo1

ISLAMABAD: The management of Pakistan State Oil (PSO) has been given four weeks to settle a Rs150 million liability with the Staff Welfare Organization (SWO), failing which the matter will be referred to the Federal Investigation Agency (FIA) or the National Accountability Bureau (NAB) for recovery. The ultimatum came on Friday during a meeting of the Public Accounts Committee’s (PAC) sub-committee, chaired by Tariq Fazal Chaudhry, which was reviewing audit reports of the Establishment Division for fiscal years 2003-04 and 2008-09. The dispute revolves around a 14,256 sq. ft. SWO-owned…

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Hubco, PSO Launch First NEV Fast-Charging Station on Lahore-Islamabad Motorway

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PSO-HUBCO

KARACHI: Hubco Green (Pvt) Limited (HGL), a subsidiary of The Hub Power Company Limited, in collaboration with Pakistan State Oil (PSO), has inaugurated its first new energy vehicle (NEV) fast-charging station on the Lahore-Islamabad Motorway (M-2), marking a significant step in the country’s electric mobility transition. Announced via press release on Wednesday, the state-of-the-art station is located at the Magic River Rest Stop and features PSO’s modern Experience Hub, which includes NEV charging facilities, a contemporary Vibe Cafe, and a retail store. The launch is part of Hubco Green’s strategic…

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Move to cushion PSO: Exchange rate losses adjusted into petrol prices

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Petrol-Diesel

ISLAMABAD: To cushion Pakistan State Oil (PSO) against exchange rate losses, the federal government has adjusted its fortnightly petroleum pricing, effective June 1, 2025, by reducing the Inland Freight Equalization Margin (IFEM) and slightly increasing average of Platts with incidentals and duty. The federal government adjusted Rs2.17 per litre exchange rate losses into petrol prices which led to increase in petrol prices by Re1 per litre with effect from June 1 to 15. With a major importer, state-owned PSO has 55 percent share in total petroleum products. The Oil and…

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SNGPL Seeks Petroleum Division’s Intervention on Gas Cost Equalisation and RLNG Financing

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SNGPL-Office

ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has called on the Petroleum Division for urgent support to finalise a gas cost equalisation arrangement with Sui Southern Gas Company Limited (SSGC) and to include the full financing cost of short-term RLNG borrowings in the RLNG price structure to ensure cost recovery. In a letter to the Director General (Gas) at the Petroleum Division, SNGPL’s Chief Financial Officer (CFO) reaffirmed the company’s commitment to meeting its financial obligations, including payments to Pakistan State Oil (PSO). The letter highlighted that accumulated payment shortfalls…

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PSO Collaborates with Dun & Bradstreet Pakistan to Boost Supplier Risk Management

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PSO-Head

KARACHI: Pakistan State Oil Company Limited (PSO) has partnered with Dun & Bradstreet Pakistan (D&B) to enhance its supplier risk management through advanced data-driven insights. This collaboration leverages D&B’s expertise to empower PSO with robust risk analytics and supplier network visibility. The partnership enables PSO to perform real-time risk assessments, conduct thorough due diligence, and monitor key business indicators. By implementing D&B’s Risk Analytics, PSO aims to proactively identify and mitigate potential risks in its supply chain, ensuring operational resilience and integrity. “Our comprehensive Risk & Data Analytics services are…

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