KARACHI: Engro Corporation earlier on Thursday issued a press release and refuted comments made by Sindh Engro Coal Mining Company (SECMC) former CEO Shamsuddin Ahmad Shaikh regarding the Sindh government.
The statement read, “Engro Corporation has categorically and vehemently refuted the comments shared by SECMC former CEO Shamsuddin Ahmad Shaikh with respect to the Government of Sindh, terming them his personal views which are not endorsed by Engro Corporation or its associated entities and affiliates in any way.”
Referring to different news items appearing in section of the media, Engro clarified that the company works in partnership with the Sindh government in the Thar Coal project and has always appreciated the much needed support that has consistently been provided for realization of this mission.
It further went on to say, “In addition to being the largest equity partner in SECMC, the Government of Sindh has provided the back up for the sovereign guarantee of $700 million for the mining project and developed key infrastructure in the region without which the project would not have progressed.”
“Sindh Engro Coal Mining Company (SECMC) is a joint venture between government of Sindh and Engro and is a brilliant example of a public private partnership model that looks to unlock the energy potential of the country. As a part of China Pakistan Economic Corridor (CPEC), the Thar Coal project is of national and strategic importance. The Government of Sindh remains a dedicated and able sponsor in this transformational programme.”
“While challenges remain, the company is confident in delivering the landmark Thar Coal project as per the communicated timelines. With the support of the government of Sindh and other sponsors the Commercial Operation Date (COD) of the 3.8 million tonnes per annum coal mine and the 660MW power plant remains on track.”
No private sector organisation can take risk to fight with powerful persons sitting in the government.