Karachi, February 17, 2025 – Pakistan State Oil (PSO) has announced a significant partnership with HUBCO Green (Private) Limited to establish and promote electric vehicle (EV) charging infrastructure across Pakistan.
This strategic collaboration aims to facilitate the growing demand for EV charging services by installing state-of-the-art charging stations at select PSO fuel stations nationwide.
The agreement, officially signed on February 14, 2025, marks a pivotal step toward modernizing Pakistan’s energy and transportation sectors. PSO disclosed the development through material information shared with the Pakistan Stock Exchange (PSX), highlighting the company’s commitment to sustainable and innovative energy solutions.
Under this partnership, PSO and HUBCO Green will jointly develop a robust network of EV charging stations, ensuring convenient access for electric vehicle users. The move aligns with Pakistan’s broader efforts to promote clean energy and reduce its carbon footprint by encouraging the adoption of electric vehicles.
In addition to the EV charging initiative, PSO also revealed its involvement in an international collaboration. The Economic Coordination Committee (ECC) of the Cabinet, during its meeting on February 14, 2025, discussed the incorporation of an International Joint Trading Company in Singapore. This new entity will be a joint venture between PSO and the State Oil Company of the Azerbaijan Republic (SOCAR), aimed at enhancing international trading capabilities.
While some media outlets have prematurely reported the ECC’s approval of the joint trading company, PSO clarified that it has yet to receive official minutes or decisions from the meeting. The company assured stakeholders that it would promptly update the PSX upon receiving the formal documentation.
PSO’s announcement reflects its proactive approach to diversifying energy solutions and adapting to global trends in the energy market. The introduction of EV charging services signifies a forward-thinking strategy, positioning PSO as a key player in Pakistan’s transition to cleaner, more sustainable energy sources.
The disclosure was made in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Regulations, ensuring transparency and timely communication with market participants.
