ISLAMABAD: In a bid to further strengthen business relations, Pakistan State Oil (PSO) signed a Fuel Supply Agreement with Pakistan Railways under which the oil marketing company will meet the latter’s fuel and lubricants requirements.
After a competitive process, PSO secured the contract of supplying high speed diesel (HSD), furnace oil (FO), lubricants and greases for a five-year period to the Pakistan Railways.
The agreement was signed by PSO Lubricants and Chemicals General Manager Qasim Zaheer and Pakistan Railways Chief Controller of Purchase Syed Mir Badshah.
PSO Managing Director Sheikh Imranul Haque, Railways Minister Khawaja Saad Rafique and Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi were also present at the ceremony among other executives from both organisations.
Speaking on the occasion, Rafique said, “Pakistan Railways is working for long-term agreements with big national and international suppliers to make the system effective.”
“The fuel supply agreement between Pakistan Railways and PSO is not only cost effective but will also help to reduce repetition of work,” he added.
In the year 2017-18 alone, PSO will supply Pakistan Railways with approximately Rs15 billion worth of petroleum products, which translate roughly to around 180 million litres of fuel and 3.5 million litres of lubricants.
PSO has offered these significantly superior quality fuels, lubricants and greases at economical rates to Pakistan Railways for their entire range of engines and machineries at all locations nationwide.
Published in The Express Tribune, June 14th, 2017.
The post Five-year agreement: PSO signs fuel supply deal with Railways appeared first on The Express Tribune.