Day: October 29, 2025

POL Posts Rs5.4bn Profit in Q1 Despite Decline in Sales

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New-POL

KARACHI: Pakistan Oilfields Limited (POL) has reported a robust Rs5.4 billion profit for the first quarter ended September 30, 2025, marking a 2.1-fold year-on-year increase, despite a drop in sales revenue. The earnings translate into an earnings per share (EPS) of Rs19.13, though quarterly profit was down 27% compared to the previous quarter. According to the company’s financial statement, net sales fell 15% year-on-year to Rs13.1 billion, primarily due to lower oil and gas production volumes and a 14% decline in average crude oil prices. However, sales improved 7% quarter-on-quarter,…

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LESCO, PSO Ink Agreement to Ensure Transparent Fuel Management

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New-LESCO

LAHORE: The Lahore Electric Supply Company (LESCO) has signed an agreement with Pakistan State Oil (PSO) for the supply of fuel to all LESCO-owned vehicles, marking a major step toward enhancing transparency and curbing misuse in the company’s fuel management system. The signing ceremony, held at the LESCO Head Office, was attended by CEO Engr. Ramzan Butt, senior officials from LESCO, and representatives from PSO. Under the agreement, all LESCO vehicles will now exclusively refuel at PSO filling stations through a dedicated fuel card system. Each vehicle will be issued…

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Wafi Energy Pakistan Posts Rs3.03bn Profit in 9MFY25, Expands Retail Network and Sustainability Drive

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Wafi Energy

KARACHI: Wafi Energy Pakistan Limited (WEPL) has reported a robust profit after tax of Rs3.03 billion for the nine months ended September 30, 2025, a significant rise from Rs724 million in the same period last year, reflecting strong operational growth and improved efficiency. The company — which operates Shell-branded fuel stations across Pakistan — expanded its retail footprint by commissioning 28 new outlets, upgrading seven existing sites, and adding 12 Shell Select convenience stores nationwide during the reporting period. In line with its sustainability vision, WEPL inaugurated its second eco-friendly…

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Gas Utilities Push for Major Tariff Hikes to Bridge Rs77bn Revenue Gap in FY26

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OGRA

ISLAMABAD: Pakistan’s two state-run gas utilities — Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC) — have sought steep increases in prescribed gas prices for fiscal year 2025-26 to offset a combined revenue shortfall exceeding Rs77 billion. In their separate petitions submitted to the Oil and Gas Regulatory Authority (OGRA), both utilities cited surging costs, rising depreciation, and imported RLNG expenses as key drivers behind the proposed adjustments. SNGPL, which caters to Punjab and Khyber Pakhtunkhwa, requested a hike of Rs189 per million British thermal…

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CCP Launches Study to Identify Barriers Hindering Solar Energy Growth in Pakistan

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ISLAMABAD: The Competition Commission of Pakistan (CCP) is initiating a comprehensive study to examine the country’s solar energy market, focusing on challenges such as grid capacity constraints and barriers that may be slowing the adoption of solar power across Pakistan. Conducted under Section 28(b) of the Competition Act, 2010, the research will be carried out through CCP’s Centre of Excellence in Competition Law (CECL). The study aims to assess industry dynamics, identify regulatory and structural hurdles, and propose policy recommendations to foster a more competitive and efficient solar energy market.…

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