AGL 42.34 Increased By ▲ 3.80 (9.86%)
AIRLINK 128.65 Decreased By ▼ -0.85 (-0.66%)
BOP 6.20 Increased By ▲ 0.59 (10.52%)
CNERGY 4.05 Increased By ▲ 0.19 (4.92%)
DCL 8.51 Decreased By ▼ -0.22 (-2.52%)
DFML 40.77 Decreased By ▼ -0.99 (-2.37%)
DGKC 87.62 Decreased By ▼ -0.68 (-0.77%)
FCCL 34.25 Decreased By ▼ -0.75 (-2.14%)
FFBL 66.35 Decreased By ▼ -1.00 (-1.48%)
FFL 10.55 Decreased By ▼ -0.06 (-0.57%)
HUBC 108.50 Decreased By ▼ -0.26 (-0.24%)
HUMNL 14.62 Decreased By ▼ -0.04 (-0.27%)
KEL 4.70 Decreased By ▼ -0.05 (-1.05%)
KOSM 7.26 Increased By ▲ 0.31 (4.46%)
MLCF 42.80 Increased By ▲ 1.15 (2.76%)
NBP 61.54 Increased By ▲ 1.94 (3.26%)
OGDC 179.56 Decreased By ▼ -3.44 (-1.88%)
PAEL 25.77 Decreased By ▼ -0.48 (-1.83%)
PIBTL 6.05 Increased By ▲ 0.08 (1.34%)
PPL 146.00 Decreased By ▼ -0.70 (-0.48%)
PRL 24.06 Increased By ▲ 0.45 (1.91%)
PTC 16.48 Decreased By ▼ -0.08 (-0.48%)
SEARL 70.30 Increased By ▲ 2.00 (2.93%)
TELE 7.22 Decreased By ▼ -0.01 (-0.14%)
TOMCL 36.11 Increased By ▲ 0.16 (0.45%)
TPLP 7.88 Increased By ▲ 0.03 (0.38%)
TREET 15.59 Increased By ▲ 1.39 (9.79%)
TRG 50.60 Increased By ▲ 0.15 (0.3%)
UNITY 26.90 Increased By ▲ 0.15 (0.56%)
WTL 1.24 Increased By ▲ 0.03 (2.48%)
BR100 9,818 Increased By 12.2 (0.12%)
BR30 29,689 Increased By 11 (0.04%)
KSE100 92,330 Increased By 25.5 (0.03%)
KSE30 28,780 Decreased By -60.6 (-0.21%)

The government has indemnified the global depository receipts (GDRs) issue for Oil and Gas Development Company (OGDC), covering its officials from any possible legal action from the shareholders and, subsequently, its Board approved the transaction plan here in an emergency meeting on Saturday.
Sources told Business Recorder that after a break of three days, the OGDC Board again met on Saturday to take up the GDRs issue, and the Finance Ministry's representative presented an indemnification certificate before the Board to meet its demand.
Privatisation Minister Zahid Hamid, is likely to announce indemnification of GODC GDRs by the government here on Monday.
Sources said that OGDC Board's approval has cleared he way for GDRs listing at London Stock Exchange, and now a team headed by chairman/ managing director Arshad Nasar would leave Islamabad on November 16 for company road shows aboard.
Other members of the team would be Executive Director Najam Kemal Hyder and Director Finance Aftab Khan, with Shahid Akbar as representative of Privatisation Commission.
The team will hold road shows in Dubai, Singapore, UK and USA to give the real picture of OGDC operations for oil and gas exploration and its future strategy to enter international market for exploration activities.

Copyright Business Recorder, 2006

Comments

Comments are closed.