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PSO (HRM)

PSO (HRM)

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Published by Umar

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Published by: Umar on May 06, 2009
Copyright:Attribution Non-commercial

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02/19/2015

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 1
EXECUTIVE SUMMARY
Pakistan state oil is the largest oil marketing company of Pakistan and also amongthe top 1000 largest companies in Asia. Pakistan state oil was set up on December 29
th
,1976 through the merger of ESSO undertakings with Pakistan national oils limited(PNOL) and Premier Oil Company Limited (POCL).
 
PSO is currently the largest oil marketing company (OMC) in Pakistan and is engaged inthe storage, distribution and marketing of petroleum product, Petro-chemicals, LPG andCNG. The company has the largest market share ie.40% market share in motor gasolineand 60% market share in diesel oil. It operates largest retail network (350 outlets) in thecountry. PSO is committed to begin the preeminent marketer of petroleum product andservices to its customers and achieving its goal while maintaining high level of efficiencyand profitability.PSO has reported a strong financial performance. Its revenues have grown at a CAGR of 13.8% since 1996. For the fiscal year ended June 2003, PSO generated sales revenue inexcess of Rs. 169 billion (US $ 2.8 billion) and after tax profit of Rs.2.25billion (US$37.5 million). PSO is the third largest public listed company in Pakistan by equitymarket capitalization. It is recipient of Karachi Stock Exchange Top 25 Companies awardfor 17 consecutives years.PSO is well-managed company and is focused to meeting the energy requirements of Pakistan. The company recently embarked upon an extensive program of restructuring,rationalization of its network of retail outlets, improving its marketing image through anation wide initiative to refurbish and re brand key retail stations and further improvingefficiencies by streamlining its structure. It has adopted modern management practicesand prepares its strategic business plans regularly. It continuously monitors itsperformance vis-à-vis annual plans.Privatization of PSO is also under way, whereby JP Morgan financial advisoryconsortium is assisting the govt of Pakistan in privatization process. The company beingfinancially sound, well entrenched in the petroleum product marketing business, with
 
 2sound and efficient track record of performance is expected to receive active responseform the prospective buyers.
 
 3
CHAPTER # 1
 
INTRODUCTION OF PROJECT

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