Karachi February 21 2023: Following today’s decision by the Trial Judge to refuse confirmation of bail applications from a number of individuals, in the matter of FIA Enquiry No. 127/2021, it has led to the detention of numerous persons, including the CEO of Hascol Petroleum Limited (“HPL”), Mr. Aqeel Ahmed Khan.
While we are advised by the legal counsel representing the CEO, that post arrest bail
should be granted, in the meantime, in order to operate the affairs of HPL, the Board has authorised the CFO, Mr. Amad Uddin, to exercise the authority of the CEO until this issue is resolved says Chairman of Hascol Petroleum Limited, Sir Alan Duncan.
