PSO to import oil through PNSC tankers
Pakistan State Oil has signed a MoU with the Pakistan National Shipping Corporation for the use of PNSC vessels for transportation of furnace oil to Pakistan. Naeem Yahya Mir, CEO and Managing Director, PSO and Saleem Ahmed Meenai, Chairman, PNSC, participated the signing ceremony at the Sindh Governor’s House. Prime Minister Raja Pervez Ashraf, Sindh Governor Ishrat- ulIbad, Chief Minister Qaim Ali Shah, Dr Asim Hussain, adviser to the prime minister on petroleum and natural resources, Qamar Zaman Kaira, federal minister for information and broadcasting and Baber Ghauri, federal minister for ports and shipping, were also present on the occasion. By signing the MoU, PSO has moved a step closer to becoming a fully integrated oil company as espoused by the company leadership. By utilizing Pakistani tankers to bring in fuel oil, PSO will be able to strengthen its supply chain and reduce dependence on foreign transportation networks. Additionally making payments in PKR will result in substantial savings in costs, which will translate into cost benefits for the end- consumer.
Through such linkages, PSO is working to catapult itself into the league of international oil giants.