The Minister for Energy, Hammad Azhar has issued directives to companies for better transparency in decisions after the recent confusion caused by the lack of communication between Pakistan State Oil (PSO) and the Oil and Gas Regulatory Authority (OGRA) over the LNG price hike.
Minister Azhar has directed PSO and Pakistan LNG Limited (PLL) to post decisions and announcements on their website. While speaking to the media, he said that it is important in order to avoid confusion related to tenders.
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He added that the tender process in practice is already transparent and happens under open competitive bidding.
The minister has also advised the boards of both companies that they should be responsible for decisions on cargo purchases instead of the companies’ management. He added that this will improve communication with the stakeholders and will promote accountability.
“We have taken these two additional steps to address misreporting and speculation,” he said and refuted reports that the state-owned PSO had agreed to the expensive deal. He added that PSO has also denied this.
