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Business & Finance

PSO refutes reports, says not shifting Head Office to Islamabad from Karachi

  • “Pakistan State Oil would like to refute the news circulating on social media about its head office shifting to Islamabad. We will continue to run our operations from Karachi,” stated PSO in a statement on Monday.
Updated 08 Feb 2021

Pakistan State Oil (PSO), the country’s leading oil marketing companies has refuted reports that it is transferring its Head Office to Islamabad.

“Pakistan State Oil would like to refute the news circulating on social media about its head office shifting to Islamabad. We will continue to run our operations from Karachi,” stated PSO in a statement on Monday.

Former Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi, lauded the announcement. “Sense prevailed. PSO refuted the news about transfer of Head Office,” stated Zaidi.

He said that that Prime Minister Imran Khan should acknowledge the importance of Karachi as the financial capital of Pakistan. “All commercial organisations and regulators like SECP to be in Karachi. SEC and SEBI in New York and Mumbai, respectively. Thanks PM IK,” he said.

Earlier Zaidi expressed disappointment after reports of PSO transferring its HQ to Islamabad made rounds.

“PSO from Head Office Karachi to Islamabad - Completely wrong decision - Pakistan cannot develop without Karachi. This is not a wish, it is a compulsion. If Pakistan is to be saved and rebuilt, any misunderstanding must be removed from our minds,” he tweeted.