ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has granted a licence to the private company for procuring and selling LNG in the country.
Universal Gas Distribution Company (UGDC) is the first private company in the country which has been allowed to sell the commodity.
According to a press release, issued by the All Pakistan CNG Association, the government had allowed the private sector to import gas for onward sale to consumers in any part of the country. It said that the licence was issued after completing all the legal formalities that took 19 months.
UGDC Chairman Brig (r) Iftikhar Ahmad and All Pakistan CNG Association Chairman Ghayyas Paracha, in a joint press statement, hoped that the government’s decision would promote investment, which will, ultimately, help tame the energy crisis. They also predicted that this would become a case study for the business schools around the world.
