Mar 7, 2014 PSO market share tumbles amid controversy Amid a probe into Pakistan State Oil (PSO) for selling poor quality diesel and petrol, the market share of the state-owned entity has tumbled during the first six months of the current financial year from July to December 2013 against the same period last year, shows an internal communique circulated within the company.PSO’s market share fell by 2.5 % in motor gasoline and 2.3 per % High Speed Diesel (HSD) – a sign that consumers are switching over to products of other companies. The company is currently at the centre of a controversy regardings its ‘environment friendly’ brands of Green XL Plus Diesel and Premier XL gasoline. According to the internal communiqué, the drop in market share has not been made public by the top management. Rather, PSO has made efforts to sweep the numbers under the rug to avoid the wrath of the incumbent government. When contacted, a PSO spokesperson opted not to comment on the company’s dwindling market share. The spokesperson said she is on leave till Monday and that only the acting managing director of PSO Amjad Pervez Janjua could answer questions regarding PSO’s market share. However, even Janjua could not be reached despite numerous efforts by The News. PSO’s acting MD has already managed to secure recommendations from PSO’s board of directors to convince the government to make him permanent managing director of PSO – which probably why he has not made the figures public. The communiqué, a copy of which is available with The News, revealed that PSO’s share of motor gasoline has gone down from 52.7 % to 48 % from May 2013 to Dec 2013, a 4.7 % 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 PSO. ((The News)
Posted on: Fri, 07 Mar 2014 05:36:42 +0000
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