National Assembly’s body on Petroleum and Natural Resources appreciates performance of Pak-Arab Refinery Limited

Islamabad, April 23, 2014 (PPI-OT): National Assembly Standing Committee on Petroleum and Natural Resources appreciated the outstanding performance of PARCO and applauded the efforts of its Management in making PARCO amongst the best professionally managed organizations in Pakistan. This view was expressed by Chairman of the NA Committee today while visiting the Corporate Headquarters of PARCO.

Earlier, while briefing the committee, Mr. Tariq Rizavi, Managing Director PARCO, gave a presentation on the Company’s operations including its Mid Country Refinery, cross country pipeline network and marketing activities. Mr. Rizavi also gave a detailed overview of PARCO’s history, its human resource management initiatives, its growth and diversification strategy including recent acquisitions and future projects and how PARCO is fulfilling its social responsibilities as the leading integrated petroleum company in Pakistan.

Chairman of the NA Committee offered all possible assistance to PARCO in its request to the Government for increasing the PARCO pipeline tariff to bring it at par with Railway Tariff, a decision already approved by the ECC.

In response to a question, MD PARCO explained that PARCO’s growth and success is due to its human capital. The Company has a scientific performance management system, undertakes recruitment on merit, focuses on employee development and training, and offers competitive salaries based on industry surveys.

Regarding pipeline losses, MD elaborated that these losses are much below the internationally allowed limits. Besides, pilferage incidents are also reducing due to closer monitoring and legislation revision which now make oil pilferage a non bailable offence.

The National Assembly Committee meeting was chaired by Ch. Bilal Ahmed Virk, and was attended by other MNAs including Malik Ihtebar Khan, Rana Afzaal Hussain, Syed Muhammad Saqlain Bukhari, Rana Muhammad Ishaq Khan, Mr. Rasheed Ahmad Khan, Chaudhry Khalid Javaid Warriach, Sardar Ali Gohar Khan Mahar, Mr. Abdul Waseem, Mr. Pir Bux Junejo and MNA Makhdoomzada Basit Bukhari along with Additional Secretary, Mr. Arshad Mirza and other officials of the Ministry of Petroleum and Natural Resources.

For more information, contact:
Karamat Hussain Niazi
Secretary
National Assembly of Pakistan
Parliament House, Islamabad
Tel: +9251 922 1082 -83
Fax: +9251 922 1106