Year: 2021

Govt Should Establish Shipping Rates Advisory Board

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Karachi Mian Nasser Hyatt Maggo, President FPCCI, has proposed to Ministry of Maritime Affairs, Ministry of Commerce and Customs to work together with Pakistan Shippers’ Council (PSC) of FPCCI to help protect the shippers and freight forwarders of the country from historically and unprecedentedly high shipping and freight charges; coupled with unavailability of shipping containers and container ships. He said that the current situation is the result of extremely challenging times for shipping and logistics over the past two years due to COVID-19 and lack of adequate government support mechanism.…

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Adil Farhat Appointed CEO of P&G Pakistan

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P&G Pakistan today announced appointment of Adil Farhat as its new Chief Executive Officer effective October 1. Adil is an experienced business leader who has worked in senior roles across Middle East, Europe, Africa for over two decades with P&G. Most recently, Adil was Managing Director of P&G West Africa, based out of Lagos. Prior to that, he has led businesses across several categories and channels based out of Geneva, Jeddah & Dubai offices. Speaking at the occasion, Adil said, “P&G Pakistan has grown from strength to strength in the…

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Pakistan’s first plastic road project kicks off under ‘World Without Plastic’ programme

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A number of private enterprises in collaboration with Capital Development Authority (CDA) have launched a mega project of re-carpeting national roads under the “World Without Plastic” programme. A prominent road in Islamabad, Ataturk Avenue, has been identified for re-carpeting and according to experts, eight tons of used plastic (PET bottles) will be mixed with road constructing material for re-carpeting the road. The project allows the use of recycled PET waste to be part of a circular plastic economy and have a considerably positive impact on the environment. ‘First time in…

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Record power generation: A costly affair

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For the second straight month, national grid generated highest-ever electricity. August 2020 net generation at 16 billion units is 10 percent clear of August 2020. And there is no low base effect at play, as August 2020 had recorded the highest for any August. The 12-month moving average monthly generation is also up by 8 percent. There are clear signs of the economy waking up from the slumbers, but this is by no means an unprecedented rate of growth. There have been long stretches of double-digit growth in demand in…

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Byco nets Rs3.6bln in FY21

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This translated into an earning per share of Rs0.67 against loss per share Rs0.46. A statement said despite tough business conditions, the company earned revenue and gross profit of Rs142.1 billion and Rs8.1 billion respectively during the twelve months, compared to Rs173.8 and Rs2.9 billion last year. The operational climate for the oil refineries remained challenging during the fiscal year, it said. As a result, oil prices and oil demand increased, driven by the re-opening of the global economy, which gave respite to the oil sector. Oil consumption in Pakistan…

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