BP Pakistan assets’ sale back on track

KARACHI: The British Petroleum (BP) Pakistan assets’ selloff, which has so far been hitting snags, is finally back on track after BP assured to pay taxes worth Rs2.4 billion, Geo News reported Wednesday.

According to industry sources, after months of beating around the bush the oil giant finally coughed up a surety to pay the tax due on it as per ordered by the government.

An NOC by the Federal Board of Revenue followed this assurance. This development will kick off BP Pakistan assets' transfer to China’s East United Energy Group sooner than later.

Sources also added that the credit of this holdup goes to BP Pakistan’s chief Tarique Khamisani’s who delayed the assurance on taxpayment only out of his slothfulness.