ISLAMABAD (APP) - Pakistan State Oil (PSO) and Karachi Electric Supply Corporation(KESCO) have signed an agreement to supply furnace oil to the latter. Under the agreement, the PSO will supply up to 33,000 MTs of furnace oil to KESC every month under the new commercial terms. The duration of the agreement is 10 years. The formal signing ceremony was held at PSO House where Irfan K. Qureshi, MD PSO and Tabish Gauhar, CEO KESC signed the agreement on behalf of the respective entities. Tabish Gauhar CEO KESC said, Today we have entered into a landmark agreement which will ensure smooth supply of furnace oil to KESC that would help us plan our operations better and effectively manage electricity needs of Karachi, which happens to be the industrial and business hub of Pakistan. He thanked the PSO management for their support and cooperation in finalization of that critical agreement. We hope to enter into a similar gas supply agreement with SSGC soon, he added. Managing Director, PSO, Irfan Qureshi stated it was well- negotiated agreement between both parties, which would serve as a milestone helping streamline the fuel supply to KESC. He hoped this agreement served to be a sturdy reciprocal relationship between both comrades and that both parties would strictly abide by the mutually laid down terms and conditions.