KARACHI: Pakistan State Oil (PSO) net profit increased to Rs8.720 billion during the quarter ended March 31, 2021, translating into earnings per share (EPS) of Rs18.57, a bourse filing said on Thursday. The company had posted a loss of Rs3.426 billion with loss per share of Rs7.30 during the same quarter last fiscal. There was no announcement of cash back.…
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The price of petrol and diesel in Pakistan may increase from May 1, sources told Geo News on Friday. The price of petrol may increase by Rs5.75 per litre while the price of diesel may increase by Rs6 per litre, said sources. The Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to the Petroleum Division. In it, the recommended prices…
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Pakistan Petroleum Limited’s profit dipped 15% to Rs12 billion in the quarter ended March 31, 2021 on the back of a contraction in sales and fall in other income. According to a notice sent to the Pakistan Stock Exchange on Thursday, the oil and gas exploration and production firm had reported a profit of Rs14.1 billion in the same quarter…
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Pakistan’s weight is likely to remain around 0.02 percent in MSCI EM in the MSCI May 2021 Semi Annual Index Review, experts said. MSCI will be releasing the results of the MSCI May 2021 Semi-Annual Index Review on May 11, 2021. Announcement is expected to be made available shortly after 11pm Central European Summer Time (CEST), ie, 02am Pakistan Standard…
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The government has decided to merge the Alternative Energy Development Board (AEDB) and the Private Power and Infrastructure Board (PPIB) for ease of doing business in the power sector. As envisioned by the government under the ease of doing business initiative, work on the merger of AEDB into PPIB is in full swing for processing power projects of all technologies,…
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ISLAMABAD: In his maiden meeting of the Economic Coordination Committee (ECC) of the cabinet, Finance Minister Shaukat Tarin deferred taking a decision on two crucial agenda items — payments to independent power producers (IPPs) and how to go ahead with subsidy on LNG supplies to export industries. Presiding over the ECC meeting, the newly inducted finance minister constituted two smaller…
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PESHAWAR, (APP – UrduPoint / Pakistan Point News – 28th Apr, 2021 ) :Federal Minister for Energy Muhammad Hammad Azhar Wednesday assured that work on all approved power and gas projects for Lakki Marwat would be started soon. Talking to prominent and senior parliamentarian, Humayun Saifullah and Provincial Minister for Social Welfare Dr Hisham Inamullah Khan during a call on…
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Rantex Pvt Ltd is a leading textile manufacturer, having been established in Pakistan for over 26 years. The project EPC is delivered by Green Volts Energy, a pioneer developer of low-carbon infrastructure in Pakistan and has been one of the most active players in the private solar sector. Green Volts has numerous project experiences, and is the first company to…
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The prosecution witness, on Wednesday, told the Accountability Court that he has not produced any document before it in the Liquefied Natural Gas (LNG) case where in accused former Chairman Oil and Gas Regulatory Authority (OGRA) Saeed Ahmed figured in. The prosecution witness, Abdur Rashid, Director Gas, while recording his statement before Accountability Court-II judge Muhammad Azam Khan, said that…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday said it would reduce electricity rates by 63-68 paisa per unit on account of monthly fuel cost adjustment for electricity consumed in March. This fuel cost adjustment is likely to provide power consumers a relief of Rs5.4 billion for the month. At the public hearing presided over by Nepra Chairman…
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