Pakistan State Oil Company Limited (PSO) has been formed under the provisions of Marketing of Petroleum Products (Federal Control) Act, 1974 (“the 1974 Act”). PSO received notification from the Ministry of Petroleum & Natural Resources (MPNR), dated 12-02-2015 whereby PSO was informed by the MPNR that the Federal Government in exercise of the powers under Section 7 of the Marketing of Petroleum Products (Federal Control) Act, 1974 “the Act” has dissolved/de-notified the BoM with immediate effect. The above referred notification also stated that the Managing Director, PSO shall exercise and perform all the powers and functions of the Board under Section 6(4) of the Act till a new BoM is appointed by the Government of Pakistan.

In view of the above, the Managing Director, PSO has been exercising and performing powers and functions of the Board since 12-02-2015.