Printer Friendly

ISGSL issues clarification regarding Mobin's third appointment.

LAHORE -- In a statement issued by Inter State Gas Systems Limited (ISGSL), the company denied the contents of certain reports circulating in sections of the media alleging that the third time appointment of Mobin Saulat as the company's head had been done in a non-transparent manner.

'The allegations made are unfounded and not true. It is clarified in definite terms that the procurement of Liquefied Natural Gas (LNG) was achieved through broad consultations, in an open and transparent manner. The process was supervised by the Federal Minister for Petroleum and Natural Resources after thorough deliberations and prevailing international best market practices. The ministry continues to maintain oversight over LNG related activities of its companies,' said the statement.

After five consecutive failures at procuring LNG for Pakistan's expanding energy requirements, Pakistan's LNG growth trajectory is now internationally acknowledged in the wider energy sector. The selection of contractors was carried out by PPRA compliant procedures. The operating costs over the 15-year life of the project are one of the lowest globally, considering Pakistan is a high-risk country for international contractors. The imported LNG is already contributing to sustainable savings of Rs 80 to 100 billion to the national exchequer and would lower our power generation costs by a cumulative Rs 300 billion. LNG has resulted in adding 3600 MGW into the national grid, zero-load shedding for the industrial sector and has enabled Pakistan to be a fertiliser exporting country for the first time in many years,' the statement further said.

The statement further added that Mobin Saulat's appointment ISGS MD was carried out through prescribed and established company rules, regulations and following all relevant protocols of the Government of Pakistan, ISGS clarified.

COPYRIGHT 2018 Asianet-Pakistan
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2018 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Pakistan Today (Lahore, Pakistan)
Geographic Code:9PAKI
Date:Feb 7, 2018
Previous Article:Chinese consortium to buy 25 per cent stake in Dhaka Stock Exchange.
Next Article:PM chairs ECNEC meeting, approves projects worth Rs167.06bn.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters