March 6, 2020: (MLN): Mari Petroleum Company Limited has clarified the news item pertaining to the removal of cap on dividend payment by MPCL.

To recall, news item published in different newspapers which stated that during a meeting of the Cabinet Committee on Privatization, chaired by Federal Minister for Privatization, the issue of de-capping of MPCL dividend to expedite its divestment process was discussed.

The news item further stated that the privatization commission and petroleum division have agreed to take this issue to the Economic Coordination Committee, as the dividend cap was originally imposed by ECC.

In this regard, it has been informed by the company to Exchange that the company was not part of the above-referred meeting. Further, MPCL assures that a complete disclosure will be made as soon as concrete material information regarding the removal of dividend cap is shared by the Government with the Company.

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