According to company secretary Zeeshan Ul Haq, Hascol Petroleum Limited has been authorized by its Board of Directors to purchase the liquefied petroleum gas plant comprising of various immovable properties and assets from Marshal Gas (Private) Limited, an associated company of the firm.

The purchase would also accommodate the rights to the licenses issued by Oil and Gas Regulatory Authority and other competent authorities.

A purchase price of Rs 175 million has been approved by the Board of Directors, subject to the terms and conditions of an Asset Purchase Agreement to be finalized by the Company and any regulatory approvals that shall be required.

PSX notification

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