Benefits offered for the Employees:

Maintaining industry-competitive Compensation and Benefits:

 PARCO’s policy is to pay employees at all levels with responsibility, salaries and wages
which are competitive when compared with prevailing salary scales for similar work in
comparable organizations. For this purpose, salary surveys are regularly conducted and
salary adjustments, benefits and revisions are accordingly granted targeting 75th
percentile of the industry;
 PARCO benefits its employees with economic protection against loss of earnings in the
event of separation from service through ‘Gratuity Fund’. Besides this, PARCO also
benefits its retired employees with ‘Pension Funds’. The widow/children of a deceased
employee are also entitled to receive pension;
 PARCO also has a ‘Transfer of Ownership of Company Assets’ policy aimed at
increasing employee satisfaction and retention. Under this scheme, employees are
allowed to purchase company vehicles and household appliances at a nominal cost;
 To assist employees in solving their transportation, housing problems and in acquiring
hard furnishings for their homes, PARCO grants Car, Housing and Furniture Loans to its
employees;
 Employees who are availing the residence facility at the Mid-Country Refinery site
benefit from allotment of Company–owned residential housing, hard and soft furnishings,
household appliances, world class sports, club facilities, schooling, mosque, shopping
centers, etc.;
 PARCO places utmost importance to the continuous services of its employees as being a
factor to be recognized in terms of granting reward and recognition. The Company
recognizes long and dedicated services rendered by employees and in recognition thereof
has instituted suitable awards commensurate with the length of service. The table besides
shows the distribution of 276 awards which have been given to employees in December
2015 on completing different periods of service.
The terms of employment at PARCO provide maximum freedom to employees to
voluntarily enter or leave the organization on free will:
 PARCO`s employment contracts do not violate human rights or labor laws. PARCO does
not have a practice of service bonds.
 Separation process, payment of outstanding dues, post-retirement benefits, etc. are done
expeditiously;
 Upon induction, all employees are provided an employee handbook which includes
Human Resource policies and procedures about hiring, training and development,
compensation, benefits, leaves, medical benefits and much more. Furthermore, an
electronic version of the book is also placed on PARCO’s Intranet Portal for instant
access by the employees. The electronic version is updated as soon as amendments are
made in the policies.
Documented procedures prohibit employment of Child Labor:
 No child labor has ever been employed by PARCO. Despite the fact that under the labor
laws of Pakistan the minimum age of hiring is 14 years, PARCO`s minimum age limit for
induction is 18 years, which it thoroughly checked by birth certificates, educational
transcripts, national identity card by NADRA (National Database and Registration
Authority) and other age verification documents, thus ensuring that there is no child labor
across the company.
Third party audit of Labor conditions:
 Regular third party audits are conducted by the Labor Directorate’s labor department and
health and hygiene department, Employees Old Age Benefit Institution (EOBI), Social
Services Department, Workers Children Education, Sindh Employers Social Security
Institution and other authorities who ensure elimination of Child Labor and compliance
of other requirements of Labor Laws.
Ensuring Equal Employment Opportunities for all:
 PARCO offers equal opportunities to all qualified applicants, men and women, belonging
to all faiths and religion, origin, ethnicity, color, caste or creed;
 PARCO ensures that no discrimination is made amongst employees and till date, all male
and female employees belonging to different religion are employed at all levels including
senior management positions;
 Employees are given holidays in accordance with their religious customs;
 PARCO gives special employment preference to handicapped applicants and has till date
employed 5 such people.
Enforcing Code of Ethics:
 PARCO ensures that employees abide with the Company`s Code of Ethics. Every
employee has to sign, at the time of induction, a declaration agreeing to PARCO`s
Principles which include a complete guideline on avoiding discrimination, ensuring fair
and ethical dealings with all internal and external stakeholders including communities,
customers, suppliers and vendors.
Workforce Diversity:
 PARCO employees come from all over the country, irrespective of domicile/origin,
ethnicity, religion, gender, or any other non-job dimension. Thus there are workers of all
ages, from all provinces i.e. from the northern most cities to the southernmost areas;
 Despite being a petroleum engineering organization, PARCO encourages women for
employment at the Mid-Country Refinery, which is located in a remote area, by
providing separate accommodation for single women.
Merit-and Promotions driven Appointments:
 PARCO discourages nepotism and every form of favoritism. The way up the PARCO
ladder is open to everybody. The policy of the Company is to develop and promote
employees from within the organization through career and succession planning;
 Hiring and promotions are done on merit, performance and ultimate potential of each
employee through professional and transparent HR processes. If any employee exerts
external pressure of any sort s/he is automatically disqualified and faces disciplinary
action.