Category: News & Announcement

KARACHI: Byco Petroleum Pakistan Ltd. (BPPL) Monday reported financial results for the nine months ending March 31, 2020. The company recorded gross sales of Rs 192.1 billion, up from Rs 182.9 billion in the same period of the previous fiscal year, says a Press release.Gross profits fell to Rs 1.2 billion from Rs 3.0 billion a year earlier due to the negative impact of the exchange rate and an increase in inventory losses. The rise in KIBOR rates pushed finance costs higher. Due to these factors, the company reported a…

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ISLAMABAD: Chairman National Disaster Management Authority (NDMA) Lt Gen Muhammad Afzal Monday said that Pakistan would soon attain the capacity to conduct 40,000 tests for the coronavirus per day.Talking to the media after receiving a consignment of 18 tonnes medical equipment from China arrived here through a special PIA flight, he said in the next few days the country’s laboratories would be able to conduct up to 40,000 COVID-19 tests daily.He said the National Disaster Risk Management Fund (NDRMF) has collaborated with the NDMA in procuring the medical equipment valuing…

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In the process of Corporate Social Responsibility, businesses spend a certain portion of their profits (earnings) on the welfare of society. This creates a pleasant feeling within the society and people want to see these businesses not only flourishing but also its development and prosperity. Almost all the major institutions in Pakistan are in one way or another benefiting the welfare of the people and various segment of the society from these funds. Is the money being spent really helpful for the betterment of the eligible classes or is the…

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LONDON: Oil prices fell on Monday on concerns about scarce storage capacity and global economic doldrums from the coronavirus pandemic. U.S. oil futures led losses, falling by more than $2 a barrel on fears that storage at Cushing, Oklahoma, could reach full capacity soon.U.S. West Texas Intermediate CLc1 June futures fell $2.86, or 16.88%, to $14.08 a barrel by 1100 GMT.Brent crude LCOc1 was down 83 cents, or 3.9%, at $20.61 a barrel. The June Brent contract expires on Thursday.Oil futures marked their third straight week of losses last week…

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The National Electric Power Regulatory Authority (Nepra) has constituted a committee of experts to prepare its reply on the report on Independent Power Producers (IPPs) prepared by a nine-member committee. Nepra is examining the recently released final report by the committee for power sector audit, circular debt resolution and future roadmap .The report has never been shared with the Nepra Authority before despite a clear agreement on the onset with the convener of the committee,” said the regulator on Saturday. Nepra, which apparently is under criticism for not playing its…

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