Day: September 20, 2022

Cnergyico Reports Robust Growth in Annual Net Profit to Rs. 4.7 Billion After Another Strong Quarter, Despite Challenges

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Cnergyico Pk Limited (formerly Byco Petroleum Pakistan Limited), today reported financial results for the year ending 30th June, 2022. Despite the long-pending challenges in the refining sector, the company earned net revenues of Rs. 170 billion, up from Rs. 142.1 billion in FY-2021. Operating profit increased by more than Rs. 2.5 billion (before finance costs and taxation) in FY-2022. Net profit for the financial year rose to Rs. 4.7 billion, or Rs. 0.90 per share, increasing from Rs. 3.5 billion, or Rs. 0.67 per share, in FY-2021.Cnergyico Pk Limited successfully…

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Naya Nazimabad ( NN) and National Forum for Environment has launched Urban Forest today

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Naya Nazimabad ( NN) and National Forum for Environment has launched Urban Forest today .more than 1000 sheddy ,flowey, fruit trees will plant trees on this forest . a colorful & graceful ceremony held yesterday.commissioner karachi M Iqbal Memon inaugurated this urban forest . Samad Habib CEO NN , Saeed Ahmad CEO NN maintinance company , SM Talah President NN gymkhana , President NFEH M. Naeem Qureshi spoke on this occasion.test cricketer Fawwad Alam. Ruqiya Naeem GS NFEH, yogi Wajahat and residents of NN were attended the ceremony. NFEH will…

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Energy Prices

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The price of electricity has risen astronomically in Europe over the last two years: by four times over the previous year and 10 times over the last two years. The European Union (EU) has claimed that this rise in prices is due to the increase in the price of gas in the international market and Russia not supplying enough gas. This raises the critical question: Why should, for example, the German electricity price rise four times when natural gas contributes around one-seventh of its electricity production? Why does the UK,…

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LNG company rejects strict terms

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Pakistan GasPort Consortium (PGPC), which operates a liquefied natural gas (LNG) terminal, has turned down the strict conditions laid down for utilising excess capacity of its terminal. PGPC’s terminal has handling capacity of 750 million cubic feet per day (mmcfd) of LNG. State-owned Pakistan LNG Limited has been allocated 600 mmcfd of capacity at the terminal, which has operated at full capacity for only a few days. The terminal operator is seeking to utilise its 150mmcfd idle capacity at its own risk. PGPC and PLL also signed an agreement on…

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Energy-fuelled inflation forces closure of industries

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The business community has expressed dissatisfaction over management of the country’s economic affairs by the government, saying it has now become impossible for industrialists to continue their business operations. The prime concern these days for the industrialists is the energy-fuelled inflation, which is forcing many to halt operations as their business has become unviable. “No one has done more harm to Pakistan’s economy than the National Electric Power Regulatory Authority (Nepra),” remarked Lahore Chamber of Commerce and Industry (LCCI) President Mian Nauman Kabir while speaking at a press conference on…

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