MUGHAL clears the air about its association with Mughal Energy Ltd

By MG News | June 24, 2019 at 02:49 PM GMT+05:00

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June 24, 2019 (MLN): Mughal Iron & Steel Industries Limited (MUGHAL) has clarified in a public announcement that Mughal Energy Limited (MEL), an associated company of MUGHAL is an independent, separate entity and is not the subsidiary of MUGHAL.

Following an application filed by MEL with National Electric Power Regulatory Authority (NEPRA) for grant of generation license, a local daily addressed MEL as a subsidiary of MUGHAL in its news report published yesterday, thereby starting the rumor.

In order to set the records straight, MUGHAL put out this rumor right away in today’s public announcement, further adding that currently there has been no decision on part of MUGHAL’s Board of Directors to make any investment in MEL.

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