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PSO Refutes Moving of its Head Office from Karachi to Islamabad

The morning was rife with the rumors that PSO is planning to shift its head office from Karachi to Islamabad for unknown reasons.

PSO, however, was quick to refute the news and took it to Twitter to debunk the rumors.

The official account of the state-owned company wrote, “Pakistan State Oil would like to refute the news circulating on social media about its head office shifting to Islamabad. We will continue to run our operations from Karachi.”

While it was all in the air, and before the news was quickly refuted, even the former Chairman FBR, Shabbar Zaidi, also got involved and opined that PSO’s decision of moving its head office is flawed. Shabbar, through his Twitter, termed the decision wrong and said that PSO should stick to retain its Karachi office.

Former FBR Chairperson, who had been vocally against the possibility of PSO shifting its headquarters, reacted to PSO’s tweet and wrote, “Sense prevailed. PSO refuted the news about transfer of Head Office”.

He said that Prime Minister Imran Khan should acknowledge the importance of Karachi, which is the financial capital of Pakistan.

He added that all commercial organizations and regulators like the Securities and Exchange Commission of Pakistan (SECP) should be in Karachi, just the way SEC (USA) & SEBI (India) are in New York & Bombay, respectively. He ended his Twitter statement with “Thanks PM IK”.

In December last year, news reports emerged stating that the head offices of Pakistan International Airlines (PIA), including the flight services division, commercial department, and human resource divisions, will be shifted from Karachi to Islamabad by the end of January as a part of the restructuring plan of the national flag carrier.

By January 2021, PIA had also refuted reports of any such relocation.

In a letter to the Pakistan Stock Exchange (PSX), the management of PIA clarified that the HQ was not being moved from the port city, adding that the media reports claiming the head office was being moved were incorrect.

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