Pakistan moving forward with PSO privatization

Pakistan's privatization ministry has retained financial adviser JP Morgan Chase & Co. to help it sell part of Pakistan State Oil (PSO), the country's largest oil marketing company.The government plans to sell 51% and management control of PSO. No deadline has been set, but the government plans to complete the privatization within 18 months.PSO is engaged in storage, distribution, and marketing of petroleum products, petrochemicals, LPG, and compressed natural gas. As a first step, PSO's LPG business will be sold.While the government is considering the possibility of restructuring PSO, it expects petroleum companies or consortia with international experience to participate in ...

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