PSO strives to take measures that are in the best interest if its shareholders
PAKISTAN STATE OIL: This is with reference to the letter published in The Express Tribune on November 16, 2016. We thank Mr Magoon for his interest in the processes of the company and compliances thereof. However, there is some factual misconception regarding the statements made about the dividend disbursement processes.
We would like to clarify that as per SRO 920(I)/2008 dated September 3, 2008 dividend is to be paid within 30 days of its declaration. The dividends are declared/approved in the Annual General Meeting (AGM).
The AGM of PSO was held on October, 21, 2016 and the dividend will be disbursed subsequent to completion of the due processes before the stipulated time period. PSO regrets any inconvenience caused. Being the country’s leading oil marketing company, PSO strives to take measures that are in the best interest if its shareholders, and regrets any inconvenience that may have been caused to them.
Company Secretary,
Published in The Express Tribune, November 23rd, 2016.
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