Inside Financial Markets

‘PSO has ample fuel reserves to meet nation’s needs’

Pakistan State Oil has repudiated the news circulating in some sections of the media fomenting speculations about shortage of fuel in the country. Pakistan State Oil (PSO) has clarified that there is no imminent shortage of fuel in the country as PSO has ample fuel reserves in its stocks and it’s being dispensed off as usual at all PSO retail outlets across Pakistan.

Followed by a recent incident at KPT terminal in which a PHI chemical tank caught fire, KPT temporarily disallowed unloading of all fuel cargoes causing rumours about possible disruption of fuel supply and the subsequent fuel shortage in the country. However, after the fire was put out, all cargoes were immediately allowed to berth and unload and the fuel supply resumed as usual. Pakistan State Oil has further informed that the company had even made arrangements to procure fuel from local refineries to ensure seamless fuel supply in case the unloading of cargoes would have delayed any further.

PSO has reiterated its commitment that the company is working relentlessly to ensure availability of fuel at all times in the country. The demand and supply cycle of fuel is closely scrutinised and act pre-emptively to ensure seamless supply of fuel in the country. Being Pakistan’s flagship oil marketing company and a responsible corporate citizen, Pakistan State Oil is fully aware of its national duty and will put maximum effort to keep the country adequately fuelled.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)