Long-standing issue resolved: Saad

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PSO, Pakistan Railways sign fuel supply agreement

Islamabad

Pakistan’s leading oil marketing company, Pakistan State Oil (PSO), has further strengthened its business relationship with Pakistan Railways with the signing of a major Fuel Supply Agreement under which PSO will meet their fuel and lubricants requirements in their entire entirety. After a stringent, transparent and competitive process, PSO successfully secured the contract of supplying High Speed Diesel (HSD), Furnace Oil (FO), Lubricants and Greases business for a five-year period to Pakistan Rail-ways.
The agreement was signed by GM Lubricants & Chemicals PSO, Mr. Qasim Zaheer and Chief Controller of Pur-chase Pakistan Railways, Mr. Syed Mir Badshah. Present at the signing ceremony were Managing Director PSO, Mr. Sheikh Imran-ul-Haque, Minister Railways, Mr. Khawaja Saad Rafique, Minister of Petroleum and Natural Resources, Mr. Shahid Khaqan Abbasi, Secretary Petroleum & Natural Resources, Mr. Sikander Sultan Raja and various other senior executives from both the organizations.
Kh. Saad Rafique, Federal Minister for Railways added,’ Pakistan Railways is working for long term agreements with big national and international suppliers to make the system effective. The Fuel Supply Agreement between Pakistan Railways and PSO is not only cost effective but also help to reduce the repetition of work.’ In the year 2017-18 alone, Pakistan State Oil will supply Pakistan Railways with approximately Rs.15 billion worth of petroleum products which translates roughly to around 180 million liters of fuel and 3.5 million liters of lubricants.
Sheikh Imran Ul Haque MD PSO stated ‘Not only will PSO be providing Pakistan Railways with unmatched qual-ity and quantity of fuels and lubricants, but it will also be providing them a hassle-free one-window solution for their entire fuel and lubricant requirements.’
Having secured the business for five years will enable Pakistan State Oil to efficiently plan the procurement of fuel and raw materials for Pakistan Railways thus causing huge savings to the Railways and the national exchequer, he said. APP adds: Minister for Railways, Khawaja Saad Rafique, on the occasion said that today was an important day in which a long standing issue was settled with transparent manners.—Agencies

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