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| May 31, 2007 | Thursday | Jamadi-ul-Awwal 14, 1428 |
Company news
KARACHI: Kashf Foundation has signed a Rs484 million ($8 million) commercial loan facility with a consortium of local commercial banks. It is a three-year facility in which Grameen Foundation provides partial risk coverage by way of a $2 million Citibank standby letter of credit in favour of the participating banks, says a press release.
The commercial loan facility has been jointly arranged by HBL, MCB and Citi while participating banks include HBL at Rs152.5 million, MCB at Rs 150 million and ABN AMRO at Rs181.5 million.
KARACHI: Pakistan State Oil Managing Director Jalees Ahmed Siddiqui has said that the company will soon introduce Liquefied Petroleum Gas (LPG) at its retail outlets across the country.
In a meeting with the members of the FPCCI standing committee on petroleum and gas here on Wednesday, he said that the supply cost of LPG is much less than of CNG as it does not require piped network and the equipment to be installed are cheaper, says a press release of the FPCCI.
However, he said that the only drawback is that the LPG retail outlets would require more security arrangements as it is heavier in density and does not dissolve in the air as quickly as CNG.
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