The public sector marketing company-Pakistan State Oil’s (PSO) market share in different product groups witnessed significant growth over the past five months.
According to official sources, from August onwards, PSOs share in the HSD market rose from 50 percent to 57 percent while share in MOGAS remained steady at 50 percent despite stiff competition in the market.
The company’s share in the lubricants market also rose from 16 percent to 28 percent amongst OMCs across Pakistan within a period of just three months, the source added. The sources said that as a result of these cohesive efforts the Company expects to witness record revenue of Rs 30 billion during the period July 2013 to November 2013.
“During the five months period of July to November 2013, there was not a single bank default on account of non-payments of Letters of Credit (LCs) due to prudent fund management,” the source said.
This is especially significant as during the preceding five months (February – June 2013) there were four defaults amounting to Rs 17 billion on different dates.
During the period from July to November 2013, PSO successfully fulfilled the furnace oil demand of the public sector and private sector electricity generating companies, and catered high demand of motor gasoline in the country due to low availability of CNG. Gasoline import has been 30 percent higher than that during same period last year.
