PSO approves separation of its Solar, DigiCash segments

Pakistan State Oil (PSO) has announced its plan to restructure its operations through the carve-out/separation and merger of its Solar and DigiCash segments, according to a Scheme of Arrangement presented by the company’s Board of Management in the 48th Annual General Meeting (AGM) held on Thursday. 

The proposal outlines the separation of the Solar Undertaking from PSO and its subsequent merger with PSO Renewable Energy (Private) Limited, alongside other related matters. 

The merger will be subject to approval from the Honorable High Court of Sindh and may involve further modifications or amendments as required by the court. 

The restructuring plan also covers the separation of PSO’s DigiCash operations.

The move is seen as part of PSO’s broader strategy to streamline its operations and enhance its focus on renewable energy and technology-driven solutions. 

The Managing Director & CEO and the Company Secretary authorized to take all necessary legal actions to implement the scheme.