Year: 2022

National Transmission & Despatch Company’s (NTDC) near 80 percent power grid stations lack proper event and fault recording mechanism, which results in frequent breakdowns amid long spells of announced and unannounced load-shedding in the country. “Owing to such criminal negligence, power transmission utilities did not have the ability to record, locate, promptly repair and fix responsibility for power breakdowns,” official sources told The News. An alleged major willful negligence has been unearthed in NTDC, wherein 16 power grid stations out of 20 were not equipped with any Event and Fault…

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Pakistan Refinery Limited (PRL) on Thursday reported a record surge of 931 percent in its net profit for the third quarter of this fiscal on an increase in the sales. In a statement to the Pakistan Stock Exchange (PSX), the company reported a net profit of Rs5.529 billion for the quarter ended March 31, up from Rs536.406 million the previous year. PRL skipped any dividend for the period concerned. Earnings per share came in at Rs8.78/share, compared with Re0.85/share last year. The company said its revenue for the quarter rose…

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Following the non-availability of required fuel for power generation and non-maintenance of some important power plants, the power outages that severely hit the masses across the country during the holy month of Ramazan have further increased up to 10-12 hours, making the lives of people miserable even at the time of Iftari and Sehri. “The less production of hydro power in the wake of no improvement in water flows into the system and no rain spell coupled with an increase in demand of electricity, because of surge in mercury, which…

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Engro Fertilisers reported a 4% decline in profit after tax to Rs5.5 billion for the first quarter (January-March) of calendar year 2022 in the wake of a significant increase in finance cost. According to a notice sent to the Pakistan Stock Exchange, the urea producing firm recorded a profit after tax of Rs5.7 billion in the same period of previous year. Earnings per share of the company dropped from Rs4.3 in January-March 2021 to Rs4.13 in January-March this year. Alongside the result, the company announced an interim cash dividend of…

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The tender awarded to Pakistan LNG Limited (PLL) for the month of May is quite costly for the country mainly owing to supply-chain disruptions in the international market on the back of Russia-Ukraine war. The firm selected the lowest bid for liquefied natural gas (LNG) cargoes. Out of seven, six contract prices for LNG cargoes were received. The cargoes were sought on an urgent basis after earlier committed cargoes were cancelled. The lowest contract price for a cargo requested for May 1-2 delivery received at $29.67 per mmbtu from Total…

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