| GEO Pakistan|
| Govt to face annual loss of Rs21 bn after OGDCL sale|
| Updated at: 2100 PST, Tuesday, September 02, 2008|
KARACHI: Government is all set to face annual loss of Rs21 billion after the privatization of the oil and gas development company Ltd. (OGDCL).
According to the facts, government had earned a net profit of Rs34.72 billion after the OGDCL announced a dividend of Rs9 during last year. Currently, government has 85 percent shares and management control in the company.
Sources said government would not only loose its management control over 51 percent shares of the company but also face annual loss of Rs21 billions after privatization.