Tak­ing PSO For­ward

Enterprise - - 8 -

To­day, Pak­istan State Oil ( PSO) stands as one of the coun­try’s most rec­og­niz­able and ac­cepted na­tional icons. Rec­og­nized for its ded­i­ca­tion to the na­tion and its cit­i­zens even in the face of multi- fold chal­lenges, PSO is ac­knowl­edged as the lead­ing com­pany in Pak­istan’s en­ergy sec­tor.

With a name rec­og­nized across the width and breadth of the na­tion, PSO touches the lives of more than 2.8 mil­lion Pak­ista­nis on a daily ba­sis. PSO’S vi­sion of be­ing ‘ an in­no­va­tive and dy­namic en­ergy com­pany that gets to the fu­ture first’ is the idea which has pro­vided bound­less im­pe­tus for its man­age­ment and em­ploy­ees. This state­ment has also been the in­spi­ra­tion and driv­ing force be­hind the com­pany’s de­sire for ex­cel­lence in all facets of its busi­ness op­er­a­tions.

The Fu­ture at PSO

Dy­namic growth is the con­cept which forms the core of the com­pany’s heart and soul. Keep­ing this in view PSO’S new Man­ag­ing Di­rec­tor & CEO, Naeem Yahya Mir has de­vel­oped a vi­sion for the fu­ture of the state- owned gi­ant. Dur­ing re­cent meet­ings with se­nior com­pany cadre the MD- PSO out­lined his plan to take the com­pany for­ward from be­ing just an oil mar­ket­ing and dis­tri­bu­tion com­pany and make it a fully in­te­grated oil com­pany.

Hav­ing a vast and in- depth cor­po­rate ex­pe­ri­ence of over 21 years in lead­ing na­tional and in­ter­na­tional oil firms un­der his belt, Mir has drawn upon his ex­pe­ri­ences as a re­fin­ery and in­ter­na­tional mar­ket ex­pert to chalk out a clear vi­sion for the com­pany’s fu­ture di­rec­tion.

As part of his over­all plan, the MD- PSO in­tends to de­velop an in­te­grated sup­ply chain that in­cor­po­rates all as­pects, in­clud­ing ex­plo­ration, re­fin­ing, ship­ping and dis­tri­bu­tion, un­der a sin­gle or­ga­ni­za­tional um­brella. He fore­sees that un­der this plan, PSO may well rise to be­come the na­tion’s most dy­namic com­pany within a span of two years, a re­gional player within four and a force to be reck­oned with in the in­ter­na­tional mar­ket within a pe­riod of six years. For him, a fully in­te­grated ver­ti­cal sup­ply chain is the only way for PSO to jump into the in­ter­na­tional arena and be part of the For­tune 500 league. Not only does he plan to com­pete on a do­mes­tic level, he also in­tends to chal­lenge oil gi­ants like Petro China and Petronas which are gov­ern­ment owned en­ti­ties hav­ing in­te­grated sup­ply chains which al­low them to op­er­ate on a global scale.

Ben­e­fits of Self- Reliance

Dis­cussing the ben­e­fits of ver­ti­cal in­te­gra­tion, Mir said that the core ob­jec­tive of any firm was prof­itabil­ity and, by in­cor­po­rat­ing all the sup­ply chain com­po­nents, PSO would be able to dra­mat­i­cally re­duce

its op­er­a­tional

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