PSO’s 50th AGM – Driving Growth, Safeguarding Energy Security and Creating Shareholder Value

Pakistan State Oil (PSO) held its 50th Annual General Meeting on October 28, 2026, at PSO House in Karachi, reviewing the company’s financial performance, strategic progress and contribution to Pakistan’s energy security.

READ MORE: https://theboardroompk.com/bank-alfalah-onboards-19-future-leaders-in-the-alfa-lead-management-trainee-program-2026/

The meeting was chaired by Asif Baigmohamed, Chairman of the Board of Management, and attended by Chief Executive Officer Jawwad Ahmed Cheema, members of the Board of Management and senior management.

For FY26, PSO reported an unconsolidated profit after tax of PKR 15.07 billion and a consolidated profit after tax of PKR 25.49 billion. The company also recommended a final cash dividend of PKR 10 per share.

PSO Reports Strong Revenue and Core Gross Profit Growth

PSO recorded gross revenue of PKR 3.25 trillion during FY26, while core gross profit, excluding liquefied natural gas (LNG), increased by 20.5% to PKR 81.9 billion.

Despite geopolitical volatility and disruptions in the Strait of Hormuz, the company maintained uninterrupted fuel supplies across Pakistan through diversified sourcing arrangements and measures to strengthen supply resilience.

PSO also retained its market leadership in aviation fuels, achieving a 99.2% market share in the segment. The company generated US$363.5 million in foreign exchange earnings during the year.

Maintaining Pakistan’s Energy Security Amid Geopolitical Risks

Disruptions affecting regional energy supply chains highlighted the importance of reliable fuel availability for Pakistan’s economy. PSO said it continued supplying fuel across the country despite the challenging geopolitical environment.

Its diversified sourcing strategy and focus on supply resilience supported uninterrupted operations during the year, reinforcing the company’s role in the country’s energy supply chain.

Advancing Transformation Into an Integrated Energy Group

During FY26, PSO continued its transition towards an integrated energy group, advancing initiatives across renewable energy, digital payments, retail expansion and electric vehicle charging infrastructure.

The company also progressed strategic energy infrastructure projects as part of its broader development agenda. Alongside these initiatives, PSO maintained its focus on operational safety and sustainability, recording zero fatalities across more than 53.87 million safe man-hours.

These efforts reflect the company’s focus on operational continuity while expanding into emerging areas of the energy sector.

PSO CSR Trust Invests PKR 665 Million in Communities

PSO continued its community support initiatives through the PSO CSR Trust, investing PKR 665 million in healthcare, education, community development and flood relief during the year.

The investment formed part of the company’s broader efforts to support communities and address social needs alongside its commercial operations.

Management Reaffirms Commitment to Shareholder Value

During the AGM, management responded to shareholders’ queries and reaffirmed the company’s strategic vision, with a continued focus on protecting Pakistan’s energy security and pursuing sustainable growth.

Management also thanked shareholders for their continued confidence in PSO and reiterated its commitment to creating sustainable value and improving returns on their investments.

Shareholders commended the company’s management for its performance and leadership, expressing confidence in PSO’s strategic direction and its ongoing contribution to Pakistan’s energy sector and economy.

Outlook: Balancing Growth, Resilience and Energy Security

PSO’s FY26 performance combined substantial revenue generation, higher core gross profit and continued investment in strategic initiatives. Its efforts to maintain fuel supplies amid geopolitical disruptions also underscored the importance of supply diversification and operational resilience.

As the company expands its activities across renewable energy, digital payments and electric vehicle charging, its focus remains on safeguarding national energy security, sustaining business growth and delivering long-term value for shareholders.