Month: August 2021

PSO returns to profit

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Pakistan State Oil Company Ltd on Tuesday declared a profit-after-tax (PAT) of Rs29.14 billion translating into earnings per share of (EPS) Rs62.07 for the year ended June 30, 2021. It represented a turnaround from the loss of Rs6.47bn (LPS: Rs13.77) suffered the earlier year. The company also ann­ounced a cash dividend at Rs10 per share. Engro incomes surges 88pc Engro Corporation Ltd posted a PAT of Rs17.05bn (EPS at Rs29.60) for the 1HCY21, showing a stellar growth of 88pc over the PAT at Rs9.06bn and EPS at Rs15.73 in the…

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China Eyes Afghanistan’s $1 Trillion of Minerals With Risky Bet on Taliban

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When the U.S. invaded Afghanistan in 2001, the global economy looked a lot different: Tesla Inc. wasn’t a company, the iPhone didn’t exist and artificial intelligence was best known as a Steven Spielberg film. Now all three are at the cutting edge of a modern economy driven by advancements in high-tech chips and large-capacity batteries that are made with a range of minerals, including rare earths. And Afghanistan is sitting on deposits estimated to be worth $1 trillion or more, including what may be the world’s largest lithium reserves —…

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Pakistan Is Likely To Face Massive Gas Loadshedding Very Soon

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And the failure of the government in retaining the new FSRU will also cause maximum gas loadshedding in the winter season as it will not be able to use the additional capacity of 180mmcfd of FSRU Sequoia, said a senior official who attended the meeting held on August 19 in Islamabad on utilization of additional capacity available at both LNG terminals. The meeting participants also discussed the worst scenario of Engro LNG terminal shutdown that is to emerge after the government’s failure. In the winter season, the demand swoops up…

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TTP in disarray after funding from India stopped: Fawad

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Information Minister Fawad Chaudhry said on Tuesday that the Tehreek-i-Taliban Pakistan (TTP) has been left in a state of “disarray” after Indian funding for the militant organisation had halted. “We should be satisfied to know with regards to the TTP that for the first time the process of Indian funding [to them] — which had been going on for a long time — has ended and at this time they are in disarray,” he said, while addressing a press conference in Islamabad after the cabinet meeting. Talking about TTP activities…

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Nepra opposes sell-off of Discos, suggests PPP model

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National Electric Power Regulatory Authority (Nepra) on Monday opposed privatisation of power Distribution Companies (Discos), suggesting that the companies should be run on the mode of Public Private Partnership (PPP). “The current system of Discos cannot work in the long run. Nepra is not satisfied with the performance of Discos but according to my personal opinion their complete privatisation is not the solution of the problem. Discos should be run on PPP mode. Their management should be private, to be run with the support of the government,” said, Rafique Ahmad…

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