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PSO posts PKR 11.2 billion profit in 1HFY25
ISLAMABAD, Feb 13 (APP): Pakistan State Oil (PSO), the nation’s energy leader, delivered a stable performance in first half of fiscal year 2024-25 (1HFY25), posting a net profit of PKR 11.2 billion and gross sales of PKR 1.74 trillion.
The company’s Board of Management reviewed the group’s performance for the half-year ended December 31, 2024, in a meeting held on February 13, 2025. The group reported a net profit of PKR 9.1 billion translating into earnings per share of PKR 19.48.
Despite a volatile market landscape, the petroleum industry maintained a steady course during the first half of the fiscal year. PSO effectively managed the resulting industry pressures, providing a seamless fuel supply to meet the country’s energy demands.
The company maintained its market position in 1HFY25, with a 47.1% of the white oil segment driven by sales of 3,610 KMT. Sustaining a strong presence in the diesel market, PSO captured 48.1% share of the diesel market, with sales of 1,660 KMT, while its MoGas portfolio secured a market share of 41.5% with 1,601 KMT in sales. The company solidified its leadership in the jet fuel segment, securing a 99.1% market share with total sales of 326.8 KMT.
Furthermore, PSO achieved its highest-ever LPG sales in FY25, with record monthly growth of 22%, reaching 5.2 KMT in December 2024. Total LPG sales reached 27.56 KMT in 1HFY25, reflecting a 10% increase from 1HFY24.
The company continued to drive sustainable growth and enhance its logistics and supply chain capabilities through strategic infrastructure investments. Major developments included the rehabilitation of 3 lubricant tanks at Keamari Terminal B and Lubricant Manufacturing Plant A facilities, adding 3 KMT of capacity, as well as an ongoing expansion involving 4 additional tanks to increase capacity by 7 KMT. Additionally, PSO expanded storage capacity by 25 KMT for PMG and HSD fuels at its Faqirabad depot with the construction of 2 new storage tanks.
The company focused on delivering exceptional customer experiences by significantly expanding its retail footprint, reaching a milestone of 3,610 outlets across the country, complemented by the modernization of 111 convenience stores.
Building on its commitment to operational excellence, PSO expanded its deployment of Dispensing Unit Controllers (DUCs) to 50 additional retail sites, bringing the total coverage to 1,200 locations and enhancing data management and network monitoring capabilities.
The company further raised the bar in retail excellence with the launch of VIBE, its pioneering concept convenience store in Karachi, redefining the retail experience and setting new standards for convenience retailing.
PSO partnered with Pakistan Railways to introduce refueling services at 8 strategic locations nationwide, enhancing logistics efficiency, railway reliability, and environmental sustainability, and ultimately driving economic growth and improved transportation services for the public.
Making a significant impact on the lives of countless Pakistanis, the company contributed PKR 130 million to various non-profits, addressing needs across healthcare, education, youth development, community empowerment, and environmental sustainability.
The circular debt crisis continues to impact PSO’s financial performance, with receivables totaling PKR 467 billion as of December 31, 2024, including PKR 340 billion owed by SNGPL. The company is working closely with the government to find solutions and resolve this longstanding issue.
Prioritizing customer-centric innovations, PSO continues to deliver value-added services to enhance customer experiences, while also advancing strategic, long-term projects designed to generate substantial shareholder value and sustainable growth.
The management expresses sincere gratitude to all stakeholders including the Board of Management, the Government of Pakistan, Ministry of Energy (Petroleum Division), shareholders and employees for their continued support and trust.
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Pakistan, Turkiye ink multiple deals to strengthen bilateral cooperation in diverse fields

ISLAMABAD, Feb 13 (APP): Pakistan and Turkiye on Thursday exchanged the signed documents of several Memorandums of Understanding (MoUs), protocols and cooperation agreements in various fields to step-up bilateral ties in various fields during the visit of Turkish President Recep Tayyip Erdogan to Pakistan.
Prime Minister Muhammad Shehbaz Sharif and President Recep Tayyip Erdogan witnessed exchanges of the accords between the two sides.
On the occasion, PM Shehbaz Sharif and President Erdogan also signed the joint declaration of 7th meeting of High Level Strategic Cooperation Council (HLSCC) to further deepen strategic partnership between Pakistan and Turkiye.
Finance Minister Muhammad Aurangzeb and Turkish Minister of Trade Omer Bolat exchanged the signed documents of the declaration on the MoU between Export Credit Bank of Turkiye and Export Import Bank of Pakistan.
Minister of Commerce Jam Kamal Khan, and Turkish Minister for Trade Omer Bolat exchange documents of the joint ministerial statement on cooperation of the verification of origin certificates used in trade, and an MoU on digitalization of the verification of origin certificates used in trade.
Similarly, an MoU on cooperation in the field of industrial property was also exchanged by Minister of Commerce Jam Kamal Khan and Turkish Minister of Industry and Technology Mehmet Fatih Kacir.
In defence sector, an MoU on exchange of military and civilian personnel for social and cultural purposes was exchanged by Minister of Defence Khawaja Muhammad Asif and Turkish Minister of Defence Yasar Guler.
Minister of Defence Khawaja Muhammad Asif and Turkish Minister of Defence Yasar Guler also exchanged the signed documents of MoU on cooperation in Air Force Electronic Warfare and an MoU between the Secretariat of Defence Industries and the Ministry of Defence Production, Pakistan.
Likewise, a protocol on training and cooperation in the field of military health was exchanged between Minister of Defence Khawaja Muhammad Asif and Turkish Minister of Defence Yasar Guler.
Another MoU between Turkish Aerospace Industries (TAI) and Naval Research and Development Institute (NRDI) of Pakistan was exchanged by DG NRDI Pakistan Navy, R/Admiral Javed Iqbal HI (M) and Director Turkish Aerospace Industries Dr Mehmet Demiroglu.
In the field of Science and Technology, an MoU for cooperation in halal trade was signed by Minister of Science and Technology Dr Khalid Maqbool Siddiqui and Turkish Minister of Trade Omer Bolat. Dr Khalid Maqbool Siddiqui and Turkish Minister of Industries and Technology Mehmet Fatih Kacir also exchanged the singed copies of an MoU on the Establishment of Legal Metrology Infrastructure.
Additionally, in National Food Security and Research sector, the two sides signed cooperation agreement on Seed Protocol to amend the agreement. The documents were exchanged between Minister of National Food Security and Research Rana Tanveer Hussain and Turkish Minister of Agriculture and Forestry Ibrahim Yumakli.
Similarly, in energy sector, the two sides signed protocol to amend the agreement on cooperation in the field of hydrocarbons. The documents were exchanged between Minister for Energy Sardar Awais Ahmad Khan Leghari and Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar.
The two ministers also exchanged documents of two MoUs on cooperation in the field of energy transition, and cooperation in the field of mining.
The two sides also signed cooperation agreement in the field of water. The documents were exchanged between Minister for National Food Security and Research Rana Tanveer Hussain, and Turkish Minister of Agriculture and Forestry Ibrahim Yumakli.
Minister of Information and Broadcasting Attaullah Tarar and Director of Communications Fahrettin Altun exchanged the signed documents of MoUs on cooperation in the field of public relations and communications.
Meanwhile, the two sides signed MoU on the cooperation in the fields of religious services and religious education. The signed documents were exchanged by Minister of Religious Affairs and Interfaith Harmony Chaudhry Salik Hussain and Professor Dr Ali Ebras.
Dr Khalid Maqbool Siddiqui and Minister of Industry and Technology Mehmet Fatih Kacir also exchanged documents of MoU between scientific and technological research council Türkiye & National Textile University (NTU), Faisalabad, for Technical Assistance and development of Pakistan-Türkiye textile technology center.
Rana Tanveer Hussain and Hakan Fidan exchanged documents of MoU on technical cooperation in the field of health and pharmaceuticals.
Likewise, Finance Minister Muhammad Aurangzeb and Turkish Foreign Minister Hakan Fidan exchanged the signed documents of MoU in the field of technical cooperation between Central Bank of Turkiye (CBRT) and the State Bank of Pakistan (SBP).
Attaullah Tarar and Turkish Foreign Minister Hakan Fidan exchanged two documents of agreement on cultural cooperation, and agreement on co-production in audio visual services.
In addition to exchange of the documents, two MoUs have also been signed at Pakistan-Turkiye Business Forum.