Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Pakistan
  4. The Pakistan Stock Exchange
  5. Pakistan State Oil Company Limited
  6. News
  7. Summary
    PSO   PK0022501016

PAKISTAN STATE OIL COMPANY LIMITED

(PSO)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Pakistan State Oil : Government of Pakistan and International Islamic Trade Finance Corporation signed Annual Financing Plan amounting to US$ 1.1 Billion The financing available through this facility will be utilized for import of crude oil, refined petroleum products and LNG during the year 2021

02/24/2021 | 12:02pm EDT

Makhdum Khusro Bakhtyar, Minister for Economic Affairs witnessed the signing ceremony of International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org) Annual Financing Plan 2021 for the Government of Pakistan, amounting to US$ 1.1 billion. The document was signed by Mr. Noor Ahmed, Secretary, Economic Affairs Division and Eng. Hani Salem Sonbol, Chief Executive Officer, International Islamic Trade Finance Corporation (ITFC, a subsidiary organization of Islamic Development Bank Group).

According to Annual Financing Plan 2021, ITFC will mobilize trade financing of US$ 1.1 Billion during the year 2021. The financing available through this facility will be utilized by Pakistan State Oil (PSO), Pak-Arab Refinery Ltd. (PARCO) and Pakistan LNG Ltd. (PLL) for import of crude oil, refined petroleum products and LNG during the year 2021. This will be helpful to augment foreign currency reserves of the country and provide resources to meet the oil import bill. Such financing commitments reflect confidence of international financial institutions in Pakistan’s economy.

Eng. Hani Salem Sonbol, Chief Executive Officer, ITFC highlighted that Pakistan and ITFC have long standing cooperation since the creation of ITFC in 2008. He highlighted that Pakistan is the 2nd largest beneficiary of ITFC financing. He assured that ITFC will continue its support to meet financial needs of Pakistan for import of crude oil, petroleum products and LNG.

Makhdum Khusor Bakhtyar, minister for Economic Affairs, thanked and appreciated ITFC support for Pakistan. The Minister underscored the importance of partnership between ITFC and Pakistan and highlighted that ITFC financing for import of oil and LNG. The Minister also appreciated ITFC’s role in the development of trade and financing in the OIC member countries.

During the ceremony, it was also discussed and agreed in principle to expand the scope of future cooperation for financing of agricultural commodities including fertilizers, and assisting Pakistan for developing a system of warehouse receipt financing facility. The both sides agreed to finalize a new framework agreement potentially by June, 2021. The Minister welcomed and encouraged ITFC to play a bigger role in trade financing in Pakistan.


Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Media Contact:
Tel: +966 12 646 8337
Fax: +966 12 637 1064
E-mail: ITFC@itfc-idb.org

Twitter: @ITFCCORP
Facebook: @ITFCCORP
LinkedIn: International Islamic Trade Finance Corporation (ITFC)

About the International Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided US$55 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.

© African Press Organization, source Press Releases

All news about PAKISTAN STATE OIL COMPANY LIMITED
07/15Pakistan State Oil Company Limited Announces Sajid Mehmood Qazi as Member of ..
CI
07/12Pakistan State Oil Company Limited Announces Appointment of Gulzar Khoja as C..
CI
06/28PAKISTAN STATE OIL : Government of Pakistan and International Islamic Trade Fina..
AQ
06/28PAKISTAN STATE OIL : Government of Pakistan and International Islamic Trade Fina..
AQ
06/17Pakistan State Oil Company Limited Announces Board Changes
CI
04/30Pakistan State Oil Company Limited Reports Earnings Results for the Third Qua..
CI
03/12PAKISTAN STATE OIL COMPANY LIMITED : Ex-dividend day for interim dividend
FA
02/24PAKISTAN STATE OIL : Government of Pakistan and International Islamic Trade Fina..
AQ
02/24PAKISTAN STATE OIL : Government of Pakistan and International Islamic Trade Fina..
AQ
02/18Pakistan State Oil Company Limited Reports Earnings Results for the Second Qu..
CI
More news
Financials
Sales 2021 1 217 B 7 594 M 7 594 M
Net income 2021 22 631 M 141 M 141 M
Net Debt 2021 - - -
P/E ratio 2021 4,32x
Yield 2021 6,02%
Capitalization 103 B 641 M 645 M
Capi. / Sales 2021 0,08x
Capi. / Sales 2022 0,07x
Nbr of Employees 2 789
Free-Float 100%
Chart PAKISTAN STATE OIL COMPANY LIMITED
Duration : Period :
Pakistan State Oil Company Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PAKISTAN STATE OIL COMPANY LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 10
Last Close Price 220,19 PKR
Average target price 295,39 PKR
Spread / Average Target 34,2%
EPS Revisions
Managers and Directors
Syed Muhammad Taha Chief Executive Officer, Director & MD
Gulzar Khoja Chief Financial Officer
Zafar I Usmani Chairman
Tara Uzra Dawood Independent Director
Mohammad Shahid Khan Independent Director