KARACHI, Aug 10: Pakistan State Oil (PSO) has signed a Memorandum of Understanding (MoU) with the Pakistan National Shipping Corporation (PNSC) for the usage of PNSC vessels for transportation of imported furnace oil to Pakistan.

PSO Managing Director Naeem Y. Mir and PNSC Chairman Saleem Ahmed Meenai signed the MoU.

The signing ceremony was held at the Governor House, on Wednesday, and attended by Prime Minister Raja Pervez Ashraf, Governor Sindh Dr Ishrat-ul-Abad, Chief Minister Sindh Qaim Ali Shah, Adviser to PM on Petroleum Dr Asim Hussain, Federal Minister for Information Qamar Zaman Kaira and federal minister for ports and shipping Babar Ghauri.

By utilising Pakistani ocean liners for bringing in imported fuel oil, PSO will be able to strengthen its supply chain and reduce dependence on foreign transportation networks.