By BR Web Desk

Copyright brecorder

The Board of Pakistan State Oil Company Limited (PSO), the country’s largest oil marketing company (OMC), has approved the winding up of its wholly-owned subsidiary, PSO Venture Capital (Private) Limited.

The company announced the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.

“The Board of Management of PSO in its meeting held on September 24, 2025, resolved to approve the winding up of the company’s wholly-owned subsidiary, PSO Venture Capital (Private) Limited (PSOVC),” read a notice.

The company added that the process shall be undertaken in accordance with applicable laws, including SECP’s guidelines for winding u of companies and the Companies Act, 2017.

PSO Venture Capital (Private) Limited was incorporated as a wholly owned subsidiary. The principal activity of this entity is to carry out the business of a private fund management company and to provide private equity and venture capital fund management services.

The subsidiary was created as part of PSO’s diversification strategy, which at the time was seeking to broaden its business beyond its traditional oil/fuel marketing & refining operations.

PSO stands as the largest OMC in Pakistan, holding the highest market share in the industry. It plays a central role in the marketing and distribution of a wide range of petroleum products, including motor gasoline (Mogas), high-speed diesel (HSD), furnace oil (FO), jet fuel (JP-1), kerosene, compressed natural gas (CNG), liquefied petroleum gas (LPG), petrochemicals, and lubricants.

Backed by the country’s most extensive distribution network, PSO also imports critical fuels—Mogas, HSD, JP-1, and FO—to ensure a consistent market supply.

The OMC closed FY25 with earnings up 32% to Rs21 billion in FY25.

This improvement in the bottom line came despite a decline in revenues, as net sales contracted 12% to Rs3.15 trillion against Rs3.57 trillion in the previous year