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APP
November 22, 2019

OGDCL, PPL to spend Rs1.384bln on welfare projects

Business

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APP
November 22, 2019

ISLAMABAD: Two state-owned E&P companies, working under the Petroleum Division, will spend around Rs1.384 billion to carry out welfare schemes and development projects in their operational areas during the current fiscal year under their corporate social responsibility (CSR) initiatives.

The Oil and Gas Development Company Limited (OGDCL) has earmarked Rs1,019 million and Pakistan Petroleum Limited (PPL) Rs365.7 million under their CSR programmes for the year 2019-20, a senior official privy to the petroleum sector developments told APP.

He said the Petroleum Division and its attached departments were fully committed to execute public welfare schemes and implement the National Clean and Green Pakistan Initiatives in line with the vision of the prime minister.

Every year, E&P companies allocate around one percent and 1.5 percent of their pre-tax profit to provide facilities like education, health, clean drinking water, vocational training, and infrastructure development in their respective oil and gas producing districts under the Petroleum Concession Agreements.

The official said OGDCL and MOL Pakistan had allocated an amount of Rs305.76 million to carry out welfare schemes and development projects in three oil and gas producing districts of Khyber Pakhtunkhwa during the current fiscal year.

Under the CSR initiatives, the OGDCL would spend Rs14.95 million in Kohat and Rs187.11 million in Karak districts, while MOL Pakistan had allocated Rs103.70 million in Karak, Kohat and Hangu districts for the purpose.

The OGDCL would utilise funds amounting to Rs0.922 million for establishment Computer and Language Centre at the Government College Technology Kohat, for which tendering was in process.

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