‘... we can grow to a ten trillion company’
Sohail Wajahat, Chairman, Board of Management, Pakistan State Oil
Australia A$ 6 Bangladesh Taka 65 Bhutan NU 45 Burma KK a10 Canada C$ 6 China RMB 30 France Fr 30 Hong Kong HK$ 30 India Rs. 65 Japan ¥ 500 Korea Won 3000 Malaysia RM 6 Maldives Rf 45 Nepal NcRs. 75 New Zealand NZ$ 7 Pakistan Rs. 100 Philippines P 75 Saudi Arabia SR 15 Singapore S$ 8 Sri Lanka Rs. 100 Thailand B 100 UAE AED 10 UK £3 USA $ 4.99
PSO is Pakistan’s first company to have achieved revenue levels in the trillion rupee range. The company has succeeded in achieving this major milestone despite the series of challenges it has faced over the past year. For instance, the industry’s volumes for Black Oil are reported to have reduced by 8%, whereas, White Oil has grown by 4%, reflecting an increase in PMG consumption of 22% while a decline of 1% was recorded in HSD demand. In spite of reduction in market size of HSD, PSO has succeeded in increasing its market share from 54.9% to 56%. PSO has also continued its overall domination of the market with its share in the Black Oil and White Oil segments standing at 78.2% and 55.1%, respectively, thereby contributing to an overall market share of 65.4%.
The Chairman of the Board of Management of PSO, Mr. Sohail Wajahat Siddiqui has thanked everyone at PSO for their positive contribution to the company’s success as he believes it is their dedication to excellence that has made the PSO brand image shine brighter in the marketplace.
Mr. Siddqui is of the view that the ability to reach one’s potential and overcome challenges lies within each individual and they must therefore maintain a positive attitude that allows them to celebrate each win as a victory and each setback as an opportunity to learn and develop. They must accept personal responsibility for their daily actions and recognize that each one of them is either part of the problem or part of the solution and that ultimately the choice is of the individual.
Mr. Siddiqui has urged everyone at PSO to remember the number 526,600 because, at the beginning of the new fiscal year, everyone is given the same precious gift – 526,600 minutes - no one receives more, no one receives less. It is the one great common denominator for all and how each person invests these minutes provides the answers to the company’s growth.
The best people in business, Mr. Siddiqui says, have learned how to take full advantage of each minute. They lead – and live – with a positive attitude, hold themselves accountable for topnotch results and continually work to improve every single day. They shore up their weaknesses, lead by example and understand that they must live in the present to make the most of everything they do. He says all those working at PSO will have a lot of opportunities this year. Though there will also be obstacles along the way but, in the end, the measure of success will be a direct reflection of how everyone have used their minutes and how much of themselves they are willing to invest because the company’s success depends on close TEAMWORK.
Mr. Wajahat says everyone should guard against wasting energies in any kind of conflict and instead utilize them to move ahead. In this context, he quotes the British musician Brian Eno, who says: “I have lived in countries that were coming out of conflict: Ireland, South Africa, the Czech Republic. People there are overflowing with energy”.
Mr. Siddiqui says this is the energy that was previously wasted in conflicts and is now being used to build those countries. Conflict and Crisis Management are the key words. As a way forward towards achieving success, the PSO Chairman Board of Management, offers the concept of the ‘Prism of Success’, based on guidelines comprising People, Process, Productivity, Growth, Cost, Cash, Profit, and Planet.
As a company and in times when recession and adverse economic conditions are striking