KARACHI, Jul 16 (APP):Pakistan State Oil (PSO) has taken strong
exception to the alleged distortion of facts presented by TV anchor
Dr. Danish in his program, Jawab Chahiye, at 92 News TV.
In a statement Monday PSO spokesman said given the allegation
that LNG is a non-oil product hence does not fall under PSO’s broader
umbrella of businesses, it would be appropriate to mention that the
Marketing of Petroleum Products (Federal Control) Act, 1974 does not
impose any limitation on PSO to undertake LNG business.
In addition, he said the Act does not specifically restrict PSO
from entering into new businesses that are allowed by its Object
Clause as under the Companies Ordinance, 1984 a company can undertake
businesses for which it has the capacity in terms of the object clause
of its Memorandum of Association (Object Clause).
“Even otherwise if the definition of petroleum products would be
observed to restrict the term, PSO may not have been engaged in the
business of other products like CNG, LPG, Petrochemicals and
Lubricants,” said the spokesman.
Referring to allegation levelled by the program host that the
agreement on PSO website is not G to G and that the agreement is
between the Pakistan Government and a private Qatar based
organization, namely Ghanva, he said this was totally baseless.
“This is a lie as the long term LNG Sale Purchase Agreement is
the version signed between government nominated entities and presented
to the Chairman of Senate by the Prime Minister,” he said.
Additionally, he said Pakistan State Oil Company Limited (PSOCL)
and QatarGas Operating Company Limited (QOCL) were nominated by
respective governments upon the ECC approval in July 2013 to negotiate
with QatarGas on G to G basis for import of LNG up to 500 mmcfd on DES
basis.
“Subsequently the Ministry of Power and Natural Resources (MoPNR)
nominated PSO while the Government of the State of Qatar also
nominated QatarGas to negotiate the Long Term LNG Sale and Purchase
Agreement and for this purpose, an Agreement in Cooperation in Energy
Sector between the Government of the State of Qatar was signed,” he
said.
The spokesman further claimed that Managing Director and Chief
Executive Officer of PSO was hired following a competitive process as
per policies and procedures with requisite approval of the Competent
Authority.
“Hiring of the PSO MD and CEO was based on approval of the
competent authority (Prime Minister) and with consent of the Ministry
of Finance, the Establishment Division and the Ministry of Environment
on summaries presented to the PM,” he said.
It was said to be important to note that the appointment of the
Managing Director of Pakistan State Oil Company Limited (PSO) is
prerogative of the Government of Pakistan and governed by the
provisions of Section 6 of the Marketing of Petroleum Products
(Federal Control) Act, 1974.