Statement of Engro Corporation – LNG Case Decision

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The Accountability Court has honourably exonerated and acquitted our Chairman Mr. Hussain Dawood, Director Mr. Abdul Samad Dawood, and former CEO Mr. Sheikh Imran ul Haq, in the award of the LNG contract to Engro Elengy Terminal Limited, as no evidence was found to prove any illegality, irregularity, or loss to the national exchequer.

Engro Corporation welcomes this much-awaited decision of the Accountability Court. Engro has always strived to act in a fair and transparent manner in all its business and commercial commitments. Over the last six decades, the Company has built its reputation through a strong focus on effective corporate governance, ethics and integrity, and compliance with the laws of the land.

The LNG Terminal in question is an essential part of Pakistan’s energy infrastructure; it supplies 15% of Pakistan’s total gas requirement, which is a critical industrial and domestic input, to a growing country. Engro remains committed to the progress and well-being of Pakistan by striving to solve some of the country’s most pressing issues.

During these testing times, the Company is grateful for the support it has received from our employees, shareholders, and partners who have believed in and worked with us.

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