ISLAMABAD, Oct 8 (APP): Minister for Energy Omar Ayub Khan on Thursday appreciated the role of Pakistan State Oil (PSO) in ensuring smooth supply of fuel during the coronavirus (COVID-19) pandemic, which had paralyzed the routine life.
The minister expressed these views while chairing a meeting at the PSO Head Office in Karachi, where he visited, accompanied by Special Assistant to the Prime Minister (SAPM) on Petroleum Nadeem Babar and Secretary Petroleum Mian Asad Hayaud Din, a Petroleum Division news release said here.
PSO’s Chief Executive Officer and Managing Director Syed Muhammad Taha briefed the meeting about the Company’s operational and marketing performance, regulatory environment, organizational dynamics, strategic thrust, future plans and key achievements including the launch of Euro 5 standard fuels and the establishment of an electric vehicle charging unit in Islamabad.
The minister lauded the PSO’s role during the fuel crisis amid the pandemic when the national flag-bearer fulfilled its responsibility by ensuring an uninterrupted supply of fuel across the country.
He also appreciated the PSO’s environment friendly fuel initiatives and encouraged further exploration of biofuels and cleaner energy solutions.
In view of the changing business landscape, Omar Ayub stressed on embracing new technologies specifically electric vehicle charging and automation.
The minister said the government was introducing flexible business policies to galvanize innovation and growth in the energy sector.
During the meeting, value creation plans entailing new ventures and business opportunities including diversification and business integration in refining projects were also discussed.
SAPM Nadeem Babar appreciated the oil market leader’s initiatives, saying “the PSO is setting benchmarks and leading the sustainable energy revolution in the country by introducing environment-friendly fuel choices.”
He assured the Petroleum Division’s full support for the PSO’s infrastructure expansion plans and efforts to resolve the key issues.
Secretary Mian Asad Hayaud Din acknowledged the PSO’s role in driving the country towards a better future by taking initiatives in line with the government’s policies and revolutionizing Pakistan’s energy landscape.
He said exploration of new business avenues to ensure sustainable growth was included in the PSO’s long-term plans.
Chairman PSO Board of Management Zafar I. Usmani and MD Syed Muhammad Taha reaffirmed the PSO’s role as the national flag bearer and leader of positive change in Pakistan.
They said the company was committed to maximizing shareholder value, playing a key role in bringing the government’s energy sector reforms to fruition, fulfilling its corporate social responsibilities and contributing to the overall progress of the country.
