By Asad Haroon
PSO verses media house war goes tougher
Islamabad: Pakistan State Oil (PSO) and a top media house having newspapers and television channels seem to be in tag of word war. Media house in its recent report claims that PSO is using deceptive practices or misleading its customers and also claims that PSO’s share of motor gasoline has gone down from 52.7 percent to 48 percent from May 2013 to Dec 2013, a 4.7 percent drop in seven months. However PSO authorities deny such figures.
In a latest rejoinder to this media group, PSO says that it strongly reject any impression with regard to misleading its customers through deceptive practices. Company in its clarification says that the PSO being the oil market leader and a responsible corporate citizen, categorically denies any allegation of usage of deceptive practices or misleading its customers. The country specifications of petroleum products, including locally refined diesel and gasoline as well as imported products, are notified by the federal government — the Ministry of Petroleum and Natural Resources.
Media group English newspaper claims that it has a copy of an internal communiqué indicating PSO’s share of motor gasoline has gone down from 52.7 percent to 48 percent from May 2013 to Dec 2013, a 4.7 percent drop in seven months. Further, the internal communication revealed that Attock Petroleum Limited (APL), HASCOL Petroleum Limited and Byco Petroleum Pakistan Limited have captured the market share lost by the PSO.
What is real story? Is yet to come out but ambiguity created by news item about the share of PSO has strongly negative for PSO shareholders
