Equity Analysis /

Pakistan OMCs: Sales volume update

  • Pakistan petroleum demand slumped abysmally (-26%MoM) as hydel energy flows spiked amid slow economy

  • However, declining furnace oil and diesel sales is broadly positive, paving way for low electricity tariff adjustments

  • We like PSO with a TP of PKR 309/share, with additional upside from likely OMC margin hike

Wajid Rizvi
Intermarket Securities
3 August 2022


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