Day: February 27, 2024

OGDCL ANNOUNCES FINANCIAL RESULTS FOR THE HALF YEAR ENDED DECEMBER 31, 2023

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ogdcl

Islamabad, February 27, 2024: The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on February 27, 2024, at OGDCL Head Office, Islamabad announced the financial results for the half year ended on December 31, 2023, of the fiscal year 2023-24. Net sales revenue clocked at Rs.235.375 billion translating to Profit after tax of Rs. 123.296 billion and earnings per share of Rs. 28.67.The Board of Directors announced an interim cash dividend for the quarter ended December 31, 2023, @ Rs. 2.50 per share…

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“Sunova Solar Unveils Groundbreaking Solar Innovations, Pioneering Transformative Shift in Pakistan’s Energy Sector”

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New-Project

In a historic event held in Lahore, Pakistan, Sunova Solar, a leading global provider of renewable energy solutions, unveiled groundbreaking Tier-1 Solar products, signaling a transformative shift in the nation’s energy landscape. With over 260 distinguished guests in attendance, including industry luminaries such as Mr. Tauseef, former chairman of NEPRA, and visionary Usama Khalid Malik, Director of Strategic Projects, the occasion showcased Sunova Solar’s unwavering commitment to innovation and sustainability. Guided by Vincent Zhou, the dynamic CEO of Sunova Solar, attendees witnessed the unveiling of two remarkable modules boasting power…

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KCCI slams NEPRA’s decision to allow Rs7.052 per kWh adjustment in fuel charges for Jan

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KCCI-Import

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh has strongly condemned NEPRA’s decision to allow an increase of Rs7.0562 per kWh as adjustment in fuel charges component for the month of January 2024 which was totally unacceptable as it would not only raise the cost of doing business but also intensify hardships for common man who was trying really hard to somehow meet both ends in the ongoing era of inflation.In a statement issued, President KCCI stated that it was highly unfair to allow an additional…

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Government to Increase Petroleum Prices Amid Power Tariff Surge

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Petrol-price

In response to a recent surge in power tariffs, the federal government of Pakistan is poised to raise petroleum prices, effective from February 29. Sources indicate that preparations have been finalized for the implementation of these price adjustments. It is anticipated that petrol prices will climb by Rs4.50 per liter, while diesel may witness a Rs2.50 increase. Additionally, Kerosene oil prices could rise by Rs2.92 per liter, while prices for light diesel oil are expected to remain unchanged. The current price of crude oil in the Brent oil market stands…

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Pakistan Makes Progress in Resolving Operational Issues for Karachi Electric Stake Sale: Al-Jomaih Official

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circular-debt-K-electric-ceo

In a significant development, Saudi investors leading the consortium owning majority shares of Karachi Electric (KE) have expressed satisfaction with the progress made in resolving operational issues hindering the sale of the utility to Shanghai Electric Power (SEP), a prominent Chinese entity. The Pakistani government, through a committee established to address regulatory hurdles and payables issues, has successfully resolved three out of five key operational challenges, as reported by Al-Jomaih Holding Group, a major Saudi business conglomerate. The consortium, comprising Al-Jomaih Holding Group, Abraaj Group, and Kuwait’s National Industries Group…

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