Year: 2022

A preliminary inquiry report on the complaints of irregularities and illegal recruitment in KP Oil and Gas Company Limited (KP-OGCL), a subsidiary of the Energy and Power, department has been handed over to the HR Committee for further action. During inquiry all those employees coming under allegations have been heard to ensure transparency. After review the final report would be submitted to the Board of Directors (BoD) of the company, said a press release issued here on Tuesday. In this regard, a 55th meeting of the Board of Directors of KPOGCL was held here with Chairman Khalid Majid and…

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Pakistan has experienced its worst floods in years in 2022, and the country’s renewed calls for financial support on climate adaptation and loss and damage from the world’s biggest emitters will likely be a point of focus at the UN climate conference Cop 27 starting this week in Egypt. An estimated 33mn people have been affected by the floods, with over 1,600 killed, while infrastructure — especially transport infrastructure — agriculture, and livestock sustained significant damage. Some districts are still experiencing stagnant water levels and could remain partially inundated until…

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The Oil and Gas Development Company Limited (OGDCL), in collaboration with Al-Shifa Eye Trust Hospital Sukkur, held its second three days free eye surgical camp at the Rural Health Centre Ranipur to ensure availability of health services to the poor and marginalized communities of Sukkur. Organized under the OGDCL’s CSR Programme, the free eye surgical camp reflected the company’s welfare policy towards poor people, particularly those in rural areas. OGDCL Regional Coordinator Sukkur inaugurated the 3-day free eye surgical camp. Dr Rahim Bakhsh Bhatti (I/C GIMS Hospital Gambat, Shah Rukh…

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The Oil and Gas Regulatory Authority (OGRA) has increased the LPG prices by Rs2 per kg, adding more woes for the already over-burdened common man. According to the notification issued, the prices for November 2022 will increase by Rs2,529 per metric ton, domestic cylinder rates by Rs35 and commercial cylinder by Rs134. The new rates of LPG with increased prices will be Rs204 per kg instead of Rs202 previously; domestic cylinder will now cost Rs2,409 from Rs2,374 as before and commercial cylinder will be available at Rs9,269 instead of Rs9,135.…

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Typically, a 30 percent decline in off take would be troubling for any company looking to make a decent earning but that company is not Lucky Cement (PSX: LUCK). In 1QFY23 in fact, Lucky not only saw volumes shrink by 30 percent, higher than the industry wide decline in sales of 25 percent but also experienced a slight shift in market share—down from 17.6 percent to 16.4 percent. Despite that, both the top-line and the bottom-line delivered a positive performance where revenue and post-tax profits grew 17 percent year on…

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