ISLAMABAD (Dunya News) – 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 yesterday 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 Railways.
The agreement was signed by GM Lubricants & Chemicals PSO, Mr. Qasim Zaheer and Chief Controller of Purchase 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. PSO has put forth and offered these significantly superior quality fuels, lubricants and greases at the most economical of packages to Pakistan Railways for their entire range of engines and machineries at all locations nationwide. The highest quality PSO fuel would undoubtedly result in better performance of Railways engines including the latest fleet of new and efficient locomotives that it purchased recently. This will further bring savings of millions of rupees to Pakistan Railways and the national exchequer.
Sheikh Imran Ul Haque MD PSO stated “Not only will PSO be providing Pakistan Railways with unmatched quality 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.”
PSO takes immense pride in offering the best quality fuel and lubricants to its customers. The High Speed Diesel imported by PSO is the best quality HSD available in Pakistan with a low sulphur content of less than 0.01 % wt max, which is the most environment friendly and lowest emission diesel fuel marketed in the country. Pakistan State Oil also has the most sophisticated and state-of-the-art Lubricant Manufacturing Terminal (LMT) in Pakistan which produces highest quality lubricants that is API compliant and certified. General Manager PSO Qasim Zaheer stated that “Due to fully automated process, the chances of human error is minimized which ensure consistent high quality and ensures efficient lubricants blending process.”
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.