PSO eyes non-fuel retail

KARACHI: Pakistan State Oil plans to expand its non-fuel retail (NFR) operations further to provide its customers with the best of services at the company’s fuel stations along with as many facilities as possible under one roof, an official said on Tuesday.

"In this segment, the PSO has moved to strengthen its operations by revamping and diversifying thirteen of its Shop Stops and installing 50 new ATMs at its retail outlets nationwide in FY2018 with the NFR revenue increasing by an impressive 69 percent," Jahangir Ali Shah, Acting Managing Director PSO, said addressing the company’s 42nd Annual General Meeting (AGM).

Shah said the company’s overall financial performance remained strong as its net sales revenue increased by 20 percent to Rs 1.1 trillion during the last fiscal year compared to Rs0.9 trillion recorded in FY2017.

“The PSO remains the nation’s favorite and most trusted fuel provider, a coveted status that we owe to our customers nationwide and use the best of our resources to serve them better,” he said.

He said it was because of the customers’ trust that in spite of challenges the PSO reported a decent 6.7 percent increase in gross profit and a profit-after-tax of Rs 15.5 billion in FY2018.