Islamabad-The government is all set to merge Pakistan LNG Terminals Limited (PLTL) and Pakistan LNG Limited (PLL) into a single autonomous company on January 1, 2021, it is learnt reliably here.
It has been planned that instead of two companies doing the same job separately, should be merged in one, therefore, it has been decided that PLTL will be merged into PLL, an official source told The Nation here Monday. The process of the merger will be completed by January 1, 2021, the source added.
After the merger, PLTL will lose its name and the new entity will continue its work as Pakistan LNG Limited. The source said that Masood Nabi who is currently having the acting charge of PLTL MD will be given the look after charge of the new entity. Masood Nabi is the incumbent MD of Govt Holdings Private Limited (GHPL) and also working acting MD PLTL. Pakistan LNG Terminal Limited (PLTL) and Pakistan LNG Limited (PLL), which are subsidiaries of GHPL, were established during the previous PML-N’s tenure to handle LNG terminal matters and its import. It is worth to mention here that back in 2018, GHPL and PLTL boards had blocked the initiative for the merger of both the companies. However, in January 2020, the federal government had again initiated the process for the merger of PLTL and PLL. According to the plan, both the companies dealing with LNG business will be merged into a single entity as an autonomous body. First, the work of PLTL and PLL is overlapping therefore it has been decided to merge both the companies into one. Secondly, since the government has decided that no new LNG terminal will be set up in the public sector, therefore, the PLTL has lost its importance.
PLTL and PLL are Public Sector Entities incorporated under the Pakistan Companies Ordinance 1984 and operates under the governance of the Ministry of Energy (Petroleum Division), Government of Pakistan (GOP). It is a wholly-owned subsidiary of Government Holding Private Limited (GHPL).
Pakistan LNG Terminals Limited (PLTL) has been mandated by the government to manage the implementation of storage and re-gasification for the country, as such will implement and procure the entire LNG re-gasification capacities from the existing as well as new LNG terminals at Port Qasim, Gwadar and Sonmiani, etc.
Similarly, PLL is a public sector entity establish to import/ procure Liquefied Natural Gas (LNG) and subsequently market/ deliver Natural Gas in a safe, reliable and profitable manner. Ensure the growth of the company and its people to their full potential. To be a trusted partner with all our stakeholders, while promoting sustainable development of Pakistan’s gas industry.
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