Year: 2021

SHC upholds order of Customs Appellate Tribunal

Admin

KARACHI: The Sindh High Court (SHC) has upheld the order of the Customs Appellate Tribunal that the Federal Board of Revenue (FBR) has no authority either to enhance or restrict exemption as it is the prerogative of the Parliament only. A division bench of the SHC comprising Justice Muhammad Junaid Ghaffar and Justice Agha Faisal gave this verdict in the appeals of director through additional director of PCA (Law) and collector of customs through additional collector of customs (law) against the decision of the Customs Appellate Tribunal, Karachi. According to…

Read More

Engro’s profit jumps 45% to Rs44.4 billion

Admin
624387-engro-1383074199

Engro Corporation’s profit soared 45.1% to Rs44.4 billion in the year ended December 31, 2020 compared to earnings of Rs30.6 billion in 2019, according to a notice sent by the company to the Pakistan Stock Exchange on Thursday. Earnings per share (EPS) of the company came in at Rs43.57 in 2020 compared to Rs28.69 a year ago. Alongside the result, the company announced a final cash dividend of Rs2 per share, taking the full-year dividend to Rs26 per share. Net sales of the company rose 10.21% from Rs225.8 billion in…

Read More

NEPRA delegation visits KE facilities

Admin

KARACHI: National Electric Power Regulatory Authority (Nepra) delegation led by its chairman Tauseef Farooqi, visited K-Electric’s (KE) 560 MW Bin Qasim Power Plant (BQPS) – II and also reviewed the development work at the adjacent 900 MW RLNG-fired Bin Qasim Power Plant (BQPS) – III. As per KE officials, the delegation included vice chairman and member Punjab Saif Ullah Chattha, member Sindh Rafique Ahmad Shaikh, member Balochistan Rehmatullah Baloch, member KP Engr Bahadur Shah, and CSR head Huma Zafar. The combined cycle-power BQPS-III power plant will add much needed capacity…

Read More

LPG importers warn of strike on March 1

Admin

LAHORE: The LPG importers on Thursday warned that complete shutter down and strike will be observed on March 1 if the government imposes additional tax of Rs 4,669 per metric ton on LPG import from the land route as proposed by Ministry of Planning Development. Addressing a joint press conference in Lahore on Thursday, LPG Industries Association chairman Irfan Khokhar, vice chairman Shahnawaz Saeed, LPG Companies and Importers Association of Pakistan president Sheikh Amir Nadeem and chairman All Pakistan LPG Transport Association Sheikh Ayaz Ahmed announced that the LPG shops…

Read More

CPPA requests Rs0.92 increase in electricity tariff

Admin

ISLAMABAD: The Central Power Purchasing Agency (CPPA) on Friday requested the National Electric Power Regulatory Authority (Nepra) for an increase of Rs0.92 in the electricity tariff in the context of January’s fuel price adjustment. According to CPPA, more than seven billion units of electricity were produced in January costing about Rs51,660,000,000, at [an average of ] about Rs5.75 per unit. “Expensive furnace oil generated 12.06 per cent of electricity in January,” CPPA said. “About 16.51 per cent of electricity was generated from domestic gas and 11.34 per cent from imported LNG [Liquefied…

Read More