PSO’s 50th AGM – Demonstrating Resilience, Driving Growth and Safeguarding Pakistan’s Energy Security

Pakistan State Oil (PSO), the nation’s own energy company, held its 50th Annual General Meeting at PSO House, Karachi, chaired by Mr. Asif Baigmohamed, Chairman of the Board of Management. Chief Executive Officer Mr Jawwad Ahmed Cheema, members of the Board of Management and senior management attended the meeting. For FY26, PSO reported an unconsolidated profit after tax of PKR 15.07 billion and a consolidated profit after tax of PKR 25.49 billion, recommending a final cash dividend of PKR 10 per share.

Despite geopolitical volatility and disruptions in the Strait of Hormuz, PSO maintained uninterrupted fuel supplies across the country through diversified sourcing and strengthened supply resilience. The company recorded gross revenue of PKR 3.25 trillion, while core gross profit, excluding LNG, grew by 20.5% to PKR 81.9 billion. PSO also sustained its market leadership, achieving a 99.2% share in aviation fuels and generating US$363.5 million in foreign exchange earnings.

During the year, PSO advanced its transformation into an integrated energy group through initiatives in renewable energy, digital payments, retail expansion and electric vehicle charging infrastructure. The company also continued to progress strategic energy infrastructure projects while maintaining a strong focus on operational safety and sustainability, recording zero fatalities across more than 53.87 million safe man-hours. Through the PSO CSR Trust, it invested PKR 665 million in healthcare, education, community development and flood relief.

The management addressed shareholders’ queries, reaffirming PSO’s strategic vision and commitment to safeguarding Pakistan’s energy security while pursuing sustainable growth. The management also expressed its sincere gratitude to shareholders for their continued confidence in the company and reaffirmed its commitment to creating sustainable value and enhancing returns on their investment.

Shareholders commended the management for its performance and leadership, expressing confidence in PSO’s strategic direction and its continued contribution to Pakistan’s energy sector and economy.