Month: April 2021

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. The company’s 9MFY21 profit surged 506 percent to Rs18.242 billion during the nine-month period ended March 31, 2021, from Rs3.008 billion during the same period last fiscal. The EPS stood…

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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 have been calculated keeping in mind the current petroleum levy rate.  The current levy on petrol is Rs11.23 per litre while on diesel, it is Rs15.29 per litre.  The final…

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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 of last year. Earnings per share of the company amounted to Rs4.42 in the Jan-Mar 2021 quarter compared to Rs5.2 in the same quarter of previous year. During the 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 Time (PST) on May 12, 2021. All changes will be made as of the close of May 28, 2021. There is some chatter in the market regarding possible inclusion of…

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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, including alternative and renewable energy projects, at one place. In this regard, Minister for Energy Hammad Azhar was briefed on success stories in the power sector of Pakistan during a…

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