Date: March 31, 2009

United Bank Limited (UBL) and Pakistan State Oil (PSO) launched Pakistan’s first Auto Credit Card on a nation-wide scale on 31st March, 2009.

The UBL PSO Auto Credit Card offers 5% free fuel every time customers purchase fuel at a PSO outlet and 1% free fuel at any non-PSO outlet. In addition, it offers several other benefits including annual fee waiver on the card, free accidental insurance and attractive offers on genuine spare parts and car accessories at 3S dealers. There are also special discounts available on vehicle tracking devices, PSO lubricants and the installation of CNG kits. No other credit card in the market today offers such lucrative benefits. The Card clearly aims to offer value-for-money proposition with a touch of both incentive and functional appeal to cater to the needs of customers.

With the launch of the Auto Credit card, UBL continues in its legacy of firsts. UBL pioneered the ‘Chip Credit Card’ in Pakistan in February 2005 which was certified by Europay MasterCard Visa (EMV). Several other innovations have been introduced by the bank since, including Galleria, the first picture credit card and WIZ, the first VISA-powered Prepaid Debit Card. 

PSO, on the other hand, is by far, the clear market leader amongst OMCs on Pakistan’s energy horizon. Statistics indicate that approximately 2.8 million customers visit PSO Stations daily. The Company possesses the largest network of retail outlets across Pakistan that not only serves the automotive sector but is also the major fuel supplier to aviation, railways, power projects, armed forces and the agriculture sector. Besides being a dominant player in the core business, PSO, today not only excels in technology and innovation but is widely acclaimed for its macroscopic contribution towards corporate social responsibility, simply because “PSO goes beyond fuel!”

“UBL and PSO share a long and mutually beneficial relationship. Apart from free fuel, the UBL PSO Auto Credit Card offers much more value in the shape of customized deals on auto-related products and services, instant rewards at dedicated outlets and annual fee waiver as a standard feature,” said Mr. Atif Bokhari, President & CEO UBL on the occasion.

Mr. Irfan Khalil Qureshi, Managing Director PSO said: “We are delighted to have launched the first-ever auto credit card in the Oil industry in Pakistan. With our extensive network of retail outlets across Pakistan, we are confident that the UBL PSO Auto Credit Card will deliver on its promise of convenience, quality service and a host of unparalleled incentives to customers across the country."

Mr. Irfan . K. Qureshi, Managing Director PSO and Mr. Atif Bokhari, President & CEO – UBL are inaugurating Pakistan’s 1st Auto Credit Card Lau nch at a PSO retail outlet, M.G. Motors, Clifton, Karachi.