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KARACHI: The Accountability Court has honourably exonerated and acquitted our Chairman Hussain Dawood, Director Abdul Samad Dawood, and former CEO Sheikh Imran ul Haq, in the award of the LNG contract to Engro Elengy Terminal Limited, as no evidence was found to prove any illegality, irregularity, or loss to the national exchequer, says a release of Engro Corporation.

Engro Corporation welcomes this much awaited decision of the Accountability Court. Engro has always strived to act in a fair and transparent manner in all its business and commercial commitments. Over the last six decades, the Company has built its reputation through a strong focus on effective corporate governance, ethics and integrity, and compliance with the laws of the land.

The LNG Terminal in question is an essential part of Pakistan’s energy infrastructure; it supplies 15% of Pakistan’s total gas requirement, which is a critical industrial and domestic input, to a growing country. Engro remains committed to the progress and well-being of Pakistan by striving to solve some of the country’s most pressing issues.

“During these testing times, the Company is grateful for the support it has received from our employees, shareholders, and partners who have believed in and worked with us”, the Company said.

Copyright Business Recorder, 2024

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M.amin malik May 02, 2024 12:28am
these top companies cannot be defeated. One question remains- do we have to pay full capacity charges even if there is no cargo in the terminal for storage???
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