Staff Report
ISLAMABAD: Ostensibly owing to excellent performance, the federal government has appointed Syed Muhammad Taha as Managing Director (MD), Pakistan State Oil (PSO) for another three years and the Establishment Division issued a notification in this regard after the approval of the Federal Cabinet.
According to available copy of the notification of Establishment Division , the federal government has approved extension in contract period of Syed Muhammad Taha was appointed as MD/Chief Executive Officer of PSO for another period of three years with effect from 26-02-2023 until further orders.
Sources said that the government has granted extension in the contract of incumbent MD PSO largely due to his excellent performance.
During the tenure of MD PSO Syed Muhammad Taha, PSO’s profits increased to a record level, they added.
Sources also said that PSO during last year under the leadership of Syed Muhammad Taha had earned approximately Rs 86 billion worth profit while he initiated restructuring of the state-owned oil giant (PSO) which resulted improvement in the financial health of PSO. Also, Pakistan won arbitration case worth $ 14.6 million due to his sincere and untiring efforts, they added.
