Despite facing financial constraints country’s largest oil supplier Pakistan State Oil (PSO) remained unmatched after tax earnings of Rs 14.78 billion during the year 2011.
According to available documents with Online it has been learnt that during last year earnings of PSO rose to Rs 86.17 per share from Rs 52.76 per share. PSO increased its share of the mogas market to 49.3% in comparison with last year to 45.9%.
It has been said that state oil agency has imported more than 11.2 million metric tons of POL products which totaled over 90% of the country’s import.
During 2011 PSO has launched multiple new products in the lubricants products range including products fro diesel engines, CNG rickshaws and generator oil while state oil agency has also signed aviation fuel agreements with Lufthansa, Fly Dubai, Eritrean Airlines NAS Air and Avient Limited.
As per the documents it has been stated that new Multan Aviation facility was design and completely developed within a period of just 210 days. Considering the energy crises in the country PSO has implemented energy conservation and environmental protection measures at PSO house and different other locations in the country.
PSO installations have been termed as environment friendly and acknowledged for minimal carbon emissions under the clean development mechanism of the United Nations Kyoto protocol.
In this regard, advisor to Prime Minister Dr Asim Hussein told online that Ministry of petroleum has decided the open outlets of PSO in Afghanistan and government of Pakistan has conveyed message to afghan government and Afghan government is also agreed over it.
Dr Asim Hussein said that during recent visit of Minister of Finance Islamic Republic of Afghanistan Dr Hazrat Omar Zakhilwal, ministry had discussed this issue with him and afghan finance minister said that after completing necessary formalities afghan government would respond in same gesture.
Dr Asim said that both sides are agreed to enhance investment in this sector.
PSO tax earnings stand at Rs. 14.78b in 2011
