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PPL clarification

This is with reference to recent reports carried in some newspapers regarding matters pertaining to Pakistan Petroleum Limited (PPL). The company clarifies the following facts. "Firstly, PPL has no plans to shift the company headquarters from Karachi to Islamabad. Most of the company's operations are based in the southern region of the country, making Karachi the ideal location for the company's operations.

"Secondly, the organisation has not been re-organised in preparation for any privatisation. The Government has not made any announcement for the privatisation of PPL. PPL has recently been restructured from a functional matrix to an asset-based hybrid, for increased focus and delivery of ambitious business targets, besides enabling staff development. "Thirdly, Pakistan Petroleum Limited (PPL) is currently carrying out a thorough review of its policies with the primary intent of rationalising them and bringing efficiencies wherever feasible. No decision has yet been taken on Gratuity and Pension Schemes. However, PPL will honour all the existing contractual obligations with employees and existing staff will be offered a choice in case a change is envisioned by the company."

Copyright Business Recorder, 2015


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln