Hi-Tech Lubricant gets OGRA nod to seek NOCs for setting up 26 petrol pumps

LAHORE: A bourse notification filed Thursday by Hi-Tech Lubricants Limited (HTL) announced it had received permission from Oil and Gas Regulatory Authority to apply for no-objection certificates (NOCs) from relevant departments for setting up 26 petrol pumps in Punjab.

The notification said retail sale of POL products through petrol pumps could only be initiated after conclusion of required storage infrastructure, third party inspector report which would confirm HTL’s storage and depot meets OGA’s technical standards and ultimate approval.

Hi-Tech Lubricants Limited imports and distributes petroleum products in Pakistan. The company offers gasoline, diesel oils, gear oils, motorcycle engine oils, coolants, brake fluids, hydraulic oils, industrial gear oils, greases, refrigerant oils, natural gas oils, and industrial oils under the ZIC brand.

HTL shares were trading at Rs93.50, up Rs2.0 and KSE-100 index at 43,078.38 points, down 274.66 points from Wednesday’s close.