Pakistan approves privatization of 7% shares in energy giant OGDCL
The Cabinet Committee on Privatization (CCOP) “approved the divestment of up to 7% government owned shares in the OGDCL through public offerings and directed to initiate the process of appointment of financial adviser for the process,” the ministry of finance informed in a statement after the cabinet committee meeting. A listed company, OGDCL holds the largest exploration acreage which, as of March 31, 2020, stood at 37 percent of the country’s total area under exploration.
