Pakistan seeks suggestions for the hedging of petroleum products from multiple banks

MG News | May 11, 2020 at 11:47 AM GMT+05:00

0:00

May 11, 2020 (MLN): Pakistan is seeking suggestions from Citibank, Standard Chartered Bank, and a consortium of Habib Bank and JP Morgan for the hedging of petroleum products.

Several options have been proposed in this regard, such as the option to hedge 15 million barrels per annum on test cases including petrol, crude oil, diesel, and LNG for the year.

The ministry of energy has sent a summary of the aforementioned suggestions to get consent from the Economic Coordination Committee.

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