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Two Ex-MDs of PSO supplied POL products illegally

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  • Post category:Crime / Pakistan
  • Post last modified:29/10/2018
  • Reading time:2 mins read

KARACHI: National Accountability Bureau (NAB-Karachi) said Monday that two former managing directors of Pakistan State Oil (PSO) made illegal agreements with a private company and supplied petrol and diesel worth Rs 56 billion to that company in violation of the rules.
In a press release of NAB, it was stated that during the year 2010 and 2012 Ex MDs of PSO signed two agreements with M/s Admore Gas Company Ltd (AGPL) and supplied petrol and diesel worth Rs. 56 billion illegally & without the approval of the PSO Board of Management. Ex-Managing Director of PSO Irfan Khalil Qureshi in connivance with Ex Senior General Manager (RB) Zulifqar Ali Jafri entered into an agreement with AGPL on December 7, 2010.
Thereafter, Naeem Yahya Mir in connivance with Ex Senior General Manager (RB) Zulifqar Ali Jafri signed an agreement with AGPL on 7th December 2012, for three years.
Later on, Irfan Qureshi joined AGPL as Managing Director and Zulifqar Ali Jafri as Chief Operating Officer. Besides the illegal supply of POL product worth Rs 56 billion to AGPL, PSO officials also
illegally paid Rs. 552 million to AGPL as sharing of PSO’s Profit Margin.
The DG-Oil, OGRA declared both the agreements as illegal and in sheer violation of Rule No. 30 of Pakistan Petroleum (Refining, Blending and Marketing) Rule 1971 amended on 13th  March 2006.
It further stated that the accused Zulifqar Ali Jafri was under judicial remand and accused Naeem Yahya Mir was out of country since 2014.
The warrant for arrest of accused Irfan Khalil Qureshi, Ex MD PSO was issued by the NAB chairman. Accordingly the NAB teams raided at different places to arrest the accused, however, he was absconding and avoiding the process of law. The investigation into the case was in the final stages.

M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.