Pakistan State Oil’s innovative and diversified product portfolio, enhanced technological base and customer-focused approach have taken its financial performance to record heights, thus, benefiting its all stakeholders.

     This was stated by Jalees Ahmed Siddiqi, Managing Director and Chief Executive Officer, in a presentation to the shareholders at PSO’s 29th Annual General Meeting on September 15, 2005. The Chairman, PSO Board of Management, Pervaiz Kausar, presided over the AGM.

     Jalees Siddiqi said that these achievements had become all the more outstanding when considered in the backdrop of the fiercely intensifying competitive environment where new players with limited infrastructure investments were impacting the level-playing field for the established OMCs.

     Jalees Siddiqi dwelt at length on the initiatives that have made PSO a major success story. He said the company had successfully implemented its ERP initiative (SAP) that had gone online from July 1, 2005, at all the installations, depots and marketing offices, enabling the company to provide better quality service to its customers.

     On behalf of the Board and shareholders, Pervaiz Kausar acknowledged the hard work and dedication of the staff, dealers and other partners in business, who had made FY05 a successful year.

     He also acknowledged the valuable contributions and leadership provided by Tariq Kirmani, the former managing director, and wished him success as PIA chairman. He welcomed Jalees Siddiqi as the new Managing Director, who has continued the good work.

      The shareholders congratulated the PSO management over its notable performance.