PSO clarification

Apropos news item titled "PSO approaches NICL for insurance cover imports" appearing in Business Recorder January 11, 2011, Pakistan State Oil (PSO) is always keen to strengthen company's controls and security system upto global best practices, however, the proposal of obtaining the insurance coverage for oil spill is at initial stage and being analysed for its costs and benefits.
Management has itself not yet decided to obtain subject insurance coverage, therefore the matter of such discussion with the Board is out of question.-PR