The Pakistan Credit Rating Agency (PACRA) has maintained the long-term and short-term entity ratings of Pakistan State Oil Company Limited (PSO) at “AAA” (Triple A) and “A1+” (A one plus), respectively. These ratings denote the lowest expectation of credit risk emanating from an exceptionally strong capacity for timely payment of financial commitments. These are the best ratings on PACRA’s rating scale.

About the company: Pakistan State Oil (PSO), a public sector entity listed on all bourses in Pakistan, is engaged in storage, distribution and marketing of Petroleum Oil and Lubricant (POL) products in Pakistan. While being among the country’s largest corporate entities, it is the largest oil marketing company (OMC) with a market share of 65%. The origin of PSO dates back to the mid-seventies when, following rationalization of the OMC sector, the GoP amalgamated three OMCs to form PSO. Till the induction of the new management in 2001, PSO was run like a typical state owned enterprise, without any serious effort to build on its inherent advantages. However, the new management has made the company more market and customer service oriented, with an enhanced aggressive stance towards competition.