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Tag Archives: Pakistan State Oil.

PSO declares 50 percent decline in net profit for first half

KARACHI: Pakistan State Oil (PSO) has declared 50 percent decline in net profit for half-year period ended on December 31, 2018, according to financial results submitted to Pakistan Stock Exchange (PSX) on Monday. The state run oil company has declared Rs4.25 billion for January – December 2018 as compared with Rs8.522 billion in the corresponding period of the last year. ... Read More »

SC directs NAB to probe MD PSO’s appointment

ISLAMABAD: The Supreme Court on Saturday summoned National Accountability Bureau (NAB) to probe into the matter regarding the appointment of Managing Director (MD) of Pakistan State Oil (PSO). Chief Justice of Pakistan Justice Mian Saqib Nisar ordered the NAB to also inform the court of its probe into Liquefied Natural Gas (LNG). While observing the irregularities of the government, CJP ... Read More »

Former PSO GM, others remanded to NAB custody

KARACHI: An accountability court has remanded two accused in NAB custody, allegedly involved in a big scam, damaging national treasury over billions of rupees, till July 24. The National Accountability Bureau produced accused Akhtar Jamil, Qaisar Jameel and Kamran Iftikhar Lari before the accountability court seeking their physical remand for further interrogation. The court, on the request of the NAB ... Read More »

Petrol crisis may last in 10-day: Khaqan Abbasi

ISLAMABAD: Federal Minister for Petroleum Shahid Khaqan Abbasi said that it may take up to ten days to bring the petrol supply situation to normalcy in the country. Cited recent slash in petroleum prices and delay in a shipment as reasons for the shortage, the minister claimed that northern areas of the country were faced with worst petrol shortage. On ... Read More »

Rs123b, 63 locomotives, 3,065 wagons needed to upgrade Pakistan Railways

ISLAMABAD: Federal Minister Khawaja Saad Rafique has said that after swapping oil of power generation plants with coal, the total infrastructure of Pakistan Railways (PR) will also need to be upgraded to transport coal to these plants and this rehabilitation of infrastructure upgradation will cost Rs123 billion rupees and minimum three year span of time. During a cabinet meeting, he said ... Read More »

Rs123b, 63 locomotives, 3,065 wagons needed to upgrade Pakistan Railways

ISLAMABAD: Federal Minister Khawaja Saad Rafique has said that after swapping oil of power generation plants with coal, the total infrastructure of Pakistan Railways (PR) will also need to be upgraded to transport coal to these plants and this rehabilitation of infrastructure upgradation will cost Rs123 billion rupees and minimum three year span of time. During a cabinet meeting, he said ... Read More »

PNSC’s operaionalisation issues affect contract with PSO

ISLAMABAD: Operationalisation issues of the Pakistan National Shipping Corporation (PNSC) are negatively affecting the positive yields of the contract of afrieghtment (COA) with the Pakistan State Oil. The PNSC and PSO entered into a memorandum of understanding (MoU) in August 2012 and thereafter, signed a Contract of Afreightment (COA) after two months, i.e in October, followed by an Addendum in ... Read More »