Pakistan State Oil Company Limited, the leading oil marketing company of the country, held its 40th Annual General Meeting (AGM) at a local hotel in Karachi. The meeting was chaired by Mr. Sheikh Imranul-Haque, Managing Director and CEO of PSO. Present at the meeting were Mr. Yacoob Suttar, CFO; Mr. Raza M Qizilbash, Company Secretary and other members of the company’s management. The shareholders appreciated the company’s performance in FY 2016 as PSO maintained its market leadership position with an overall Market share of 56.0% despite stiff market conditions. The company’s Profit after Tax during FY 2016 was Rs 10.3 billion as compared to Rs. 6.9 billion during FY 15. During the session, the shareholders also approved the company's financial statements along with a final cash dividend of Rs. 7.5 per share (equivalent to 75%). During the meeting, the management also highlighted that corporate social responsibility (CSR) is an integral part of PSO’s overall mission.
Initiatives undertaken by PSO in the fields of education, healthcare, environment and community development were briefly mentioned. Shareholders also stressed upon giving back to the society.
© Pakistan Press International, source Asianet-Pakistan