Caretaker Minister for Energy held meeting with PSO

• The Minister was briefed by Managing Director PSO.
• Caretaker Minister directed PSO to minimise circular debt.
• Energy Minister held meeting with Oil Marketing Companies.

KARACHI: The Federal Minister for Energy Muhammad Ali held important meeting with PSO management at PSO House Karachi.

The Minister was briefed by the Managing Director Pakistan State Oil(PSO), Syed Muhammad Taha regarding overall performance and challenges being faced by the PSO.

The Managing Director of PSO apprised the Minister that the PSO had an extensive network of 3500 outlets nationwide.

The caretaker Federal Minister directed the PSO management to minimise the circular debt, being the Pakistan’s leading energy company.

The meeting was attended by the Chairman,  Oil & Gas Regulatory Authority(OGRA), Masroor Khan and Additional Secretary Incharge Ministry of Energy,  Momin Agha.

Later on, the Caretaker Federal Minister for Energy, Muhammad Ali also held a meeting with the heads of Oil Marketing Companies(OMCs) headed by the Secretary General Oil Marketing Companies(OMCs), Dr. Nazir Abbas Zaidi.

The delegation of Oil Marketing Companies(OMCs) raised their issues regarding foreign exchange losses, pricing formula, illegal outlets and turn over tax to be minimised. Mr. Mehmet Celepoglu, the Chief Executive Officer of Total Parco Pakistan also joined the meeting through video conference.

Mr. Mehmet also appealed the caretaker Minister for Energy to formulate the uniform policy and reimburse the amount of foreign loss after conducting audit in order to create uniformity among the companies.

The Caretaker Federal Minister for Energy ensuring his complete support, directed the Chairman, Oil and Gas Regulatory Authority(OGRA) and Additional Secretary Incharge, Ministry of Energy to address the issues on priority basis.

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Furthering, the Minister appealed the Oil Marketing Companies to discourage the smuggling and the smuggled item. A massive crack down had already been initiated against the smugglers, he said.