Various measures to support petroleum companies discussed

Staff Reporter

Adviser to the Prime Minister on Finance and Revenue Mr. Shaukat Tarin chaired a meeting on dividends to shareholders of Energy Sector companies at Finance Division on Monday.

Secretary Finance, Secretary Petroleum, MD OGDCL, and senior officers attended the meeting.

Secretary Petroleum gave a presentation on the issue of dividends by the petroleum listed companies and informed that low dividend payout ratio and mounting circular debt resulted in significant drop in share prices, which is affecting future growth and long term sustainability of the petroleum listed companies.

The Adviser discussed various measures to support the petroleum companies and advised the companies to make the best use of their resources.

He further directed the Petroleum Division to present a workable plan in the next meeting for the sustainability of Petroleum companies.

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