Cabinet scraps Mari dividend cap
Decision will help fetch better price for 18.4% govt stake in company
ECC decided to continue dividend distribution by Mari Petroleum having a 45% cap on guaranteed return. PHOTO: FILE
ISLAMABAD:
The cabinet on Tuesday approved the removal of cap on dividend distribution by Mari Petroleum Company Limited (MPCL) in a bid to fetch better price for the government of Pakistan shares.
The government plans to divest 18.39% shares in Mari Petroleum and the removal of dividend cap will help get a better price. The approval came during a meeting chaired by Prime Minister Imran Khan.
Earlier, the Economic Coordination Committee (ECC) had approved the removal of cap on dividend distribution by Mari Petroleum.