Pakistan State Oil's 43rd annual general meeting held.

KARACHI -- PSO, the leading oil marketing company in Pakistan, held its 43rd annual general meeting on October 28th 2019 in Karachi. The program elaborated on the company's latest achievements and role as a trusted partner across all national stakeholders. The meeting was chaired by Mr. Zafar Usmani, Chairman, Board of Management, PSO. The meeting was attended by Members, Board of Management, Mr. Sajid Mehmood Qazi, Mr. Mohammad Shahid Khan, Mr. Muhammad Humayun Khan Barakzai, and company officials Mr. Jehangir Ali Shah, the Managing Director and CEO, Mr. Yacoob Suttar, Deputy Managing Director - Finance and CFO and Mr. Rashid Umar Siddiqui, the Company Secretary of PSO. The PSO management highlighted that they were successful in tackling the challenges to the industry in the wake of the overall challenging economic situation in the country. PSO managed to mitigate the impact and has reported Rs. 17.5 billion in Profit-before-Tax and Rs. 10.6 billion in Profit-after-Tax (PAT) in FY2019.

While talking to the shareholders at the meeting, Mr. Zafar Usmani, the Chairman of PSO's Board of Management said: "Our collective strategic efforts have been effective in largely overcoming the general economic slowdown in the country, mounting competition within the industry, and significant changes in the foreign exchange and money market dynamics. FY2019 has been very challenging for Pakistan's downstream sector. However, PSO management has successfully re-energized the Company's performance to set it on a strong growth trajectory.' 'PSO has continued to cement its...