Apropos a news item 'PPRA rejects MOL claim' carried on December 18, MOL Pakistan has issued the following clarification: The mentioned news item is allegedly based on a letter written by the Public Procurement Regulatory Authority.
MOL has neither knowledge of, nor recipients of such correspondence, but even if there was such a letter, the failure to investigate around any such letter, gives an impression of MOL circumventing the law at the expense of Pakistan. This is categorically not the case and by asserting the same is biased, unprofessional and damaging.
MOL Pakistan operates under stringent national and international standards, tightly regulated not only by its own procedures, but layers of auditing and regulator and joint venture partner scrutiny.
Nowhere in our operating agreements signed with the President and Pakistani joint venture partners are the Public Procurement Rules (PPRs) mentioned; for the reason that they are not legally applicable to MOL.
That is not to say that MOL does not have high standards of procurement procedures - MOL's match world wide accepted benchmark of corporate governance, which require transparency and efficiency in procurement. Furthermore, we comply with requirements laid down by contract and other applicable law, of which the relevant government departments and ministries are fully aware.-PR