|Date: August 12, 2008|
|PSO Never Stops|
In light of the recent spate of petrol crisis faced by the country (and especially Punjab), Pakistan State Oil, summoned a press conference in Lahore on Tuesday to bring to the fore all the ground realities with respect to the issue and to highlight the proactive steps PSO took in this regard. In the wake of this scarcity, PSO, the largest energy provider of Pakistan, again stepped up to tend to the needs of its valued customers by operating overtime to fill the yawning demand-supply gap left by non-operation of its competitors. Time and again, the Company has taken the bull by the horns and addressed the crux of the issue when competitors brought operations to a crushing halt.
It is clear that PSO’s far-sight has led the nation out of this situation. The Company is always careful about maintaining comfortable reserve stocks and to this end plans imports effectively. “In light of the PARCO shut-down, we foresaw a rocky road ahead and this month three vessels of Mogas, (approximately 40K MTS each) were imported out of which two have been discharged,” highlighted PSO Managing Director, Irfan Qureshi, at the conference.
Underscoring the reasons for the crisis, the Managing Director quoted the recent floods causing damage to roads due to which transportation from PARCO was badly affected resulting in shut down of PARCO refinery rendering it non-operational for 43 days. In addition to this, CNG load-shedding further exacerbated the situation in the province. However, even in the face of these external factors, PSO was the only OMC that maintained adequate stock level at its depots and terminals (as per GoP directives to all OMCs). Taking lead of the situation, PSO carried on with operations at all its locations round-the-clock to address the shortage. Gracing the occasion, Sabir Hussain, DG Oil, also lauded PSO’s efforts acclaiming the contingent measures the Company took.
PSO, the largest energy provider in the country, is fully cognizant of its responsibility of fuelling the nation as is evident from the figures of the last two months: Punjab consumes an average of 110,000 MTs a month, out of which PSO sales are a staggering 50,000 MTs per month. With a market share of 48 percent, PSO tries to fulfill 100 percent demand with this almost-half share; thus living up to its reputation: PSO Never Stops.