PSO has signed a White Oil Pipeline Multi-grade Project Throughput Agreement with Pak Arab Pipeline Company (PAPCO) which will reduce transportation cost, improve efficiency, safeguard the country’s petroleum product supply chain and enable environment friendly transportation of fuel.
The agreement was signed by General Manager Supply PSO - Mr. Asad Raza Faiz and Chief Executive PAPCO - Mr. Amr Ahmed. Senior officials including Managing Director & CEO PSO - Syed Taha and Managing Director PARCO - Mr. Shahid Mehmood Khan were also present during the ceremony.
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The Economic Coordination Committee (ECC) of the Cabinet has decided that the prospective tariff of white oil pipeline multi-grade movement project in terms of dollars will be locked for five years to be paid in Pak Rupees. he ECC took this decision on September 9, 2021 on a summary moved by the Ministry of Maritime Affairs, which is now more focused on petroleum sector instead of port affairs.
After detailed discussion, ECC decided that prospective tariff in terms of dollars shall be locked for 5 years to be paid in Pak Rupees, at the prevailing exchange rate, by PSO for HSD and MOGAS with immediate effect.