Committee on Petroleum and Natural Resources headed by Senator Mohammad Yousaf visited PSO House Tuesday to review the performance and receive a briefing on the operational activities of the national energy giant. Speaking at the briefing, Naeem Yahya Mir, CEO and MD PSO, appreciated the senators’ visit saying being a national company it was important for PSO to take all steps to benefit Pakistan. The MD said it was his vision to establish PSO amongst the leading oil conglomerates of the world and the best company in Pakistan. He also apprised the visitors that as part of this plan, he wished to change PSO from a simple marketing and distribution company to a global energy company by developing an integrated supply chain which incorporates aspects of exploration, refining, transportation and shipping. Following the welcome note, company officials provided the elected representatives with an overview of the oil industry including the supply and demand situation for various POL products amongst different sectors. They also provided a brief synopsis of the oil pricing mechanism in place and the notification process for the same. The MD PSO followed this overview with some highlights of the recent initiatives and savings undertaken at PSO. This includes establishment of a refinery in Khyber Pakhtunwa and development of Corporate Social Pumps (2 in each province) and has also initiated the Street Sponsorship Program whereby 2 streets in low income areas of each province would be developed with state-of-the-art facilities and infrastructure to enhance the living standards of the inhabitants of the area. He also said that the stories appearing in the media regarding the award of a fuel supply contract to Bakri trading without open tendering were baseless as this was the only company with blending facilities in Pakistan.
