ISLAMABAD: The public sector oil marketing company-Pakistan State Oil (PSO) has strongly rejected any impression with regard to misleading its customers through deceptive practices.
The company in its clarification says 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, Ministry of Petroleum and Natural Resources.
PSO meets the said government specifications. The prices of products are strictly charged by PSO from the customer in accordance with the government and ECC approved formula.
It said the PSO strives to meet customer demand to their satisfaction while protecting their rights.
It is clarified that PSO's products have long-established brand names which are not derived from the product composition. The allegation or sentiment being unduly created that PSO is deceiving the customers is vehemently denied.
Additive usage has little or meaningful impact on fuel sales as a whole. The matter of usage of additives in PSO's fuels cannot be commented upon as the matter in this regard is subjudice in the court of law.
During the six month period ended December 2013, PSO led the market with a share of 63 percent while its market share in black oil and white oil stood at 75 percent and 53 percent respectively.
During the first quarter of the current financial year, the company's sales of furnace oil and motor gasoline grew by 13 percent and 15 percent respectively.
A decline of 6.4 percent in sale of high speed diesel during the first quarter was followed by a growth of 3.5 percent during second quarter resulting in 1 percent decline over the six months period.
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