Category: Recent Post

ISLAMABAD: As the government has added to the industrialists’ problems by increasing the power tariff, PM Imran Khan may soon announce a relief in energy prices for the industrial sector.   The PM has assured the business community of a “good news” regarding power tariff, said industrialists who met with the prime minister on Wednesday.  “High energy prices increase the cost of production and makes the country uncompetitive globally. The incumbent government will soon come up with a package of cheap electricity for the industry so as to realise its true potential,” Wajid Bukhari, a…

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Karachi: The Board of Directors of Indus Motor Company (IMC) released its financial results for the first quarter ended September 30, 2020.The Company’s combined sales of Complete Knocked Down (CKD) and Complete Built-up (CBU) units for the quarter increased by 73% to 11,809 units against 6,839 units sold in the same period last year. The market share of IMC in the overall market stood at approximately 27% for the first quarter. The Company’s net sales turnover for the quarter increased by 65% to 34.19 billion compared to Rs. 20.72 billion,…

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KARACHI: Nestlé Pakistan Limited posted a revenue of PKR 88.7 billion for the nine-months period ended September 2020, an increase of 1.9% compared to the same period last year, despite many difficulties emanating from the COVID-19 crisis. These results were announced following a Board of Directors’ meeting at the Company’s Head Office, says a Press release.Dairy and Nutrition products are the main contributors to this growth as sales of liquid beverage products were negatively impacted by the COVID-19 situation. The Company launched several new products including Milkpak Butter, Nescafé Ice…

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Islamabad-The 23rd annual general meeting of Oil and Gas Development Company Limited was held here in Marriott Hotel Islamabad on Wednesday the 28th of October 2020. The members approved financial statements for the fiscal year ended June 30, 2020 together with the Director’s and Auditor’s report. Final cash dividend of 25% of the par value of the shares i.e Rs 2.5 per ordinary share of Rs 10 each was also approved in the said AGM. Moreover M/s KPMG Taseer Hadi & Co., Chartered Accountants and M/s A.F. Ferguson, Chartered Accountants…

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Getting rid of oil and gas is “far-fetched and unrealistic,” Saudi Energy Minister, Prince Abdulaziz bin Salman, said on Monday, adding that companies and governments should be thinking about how to reduce emissions from fossil fuels instead. “Let’s not focus on the fuel of choice but rather how we can mitigate and adapt to these realities without showing any preferences,” Prince Abdulaziz bin Salman said at the Singapore Energy Summit, as carried by Reuters. Saudi Arabia and its oil giant Aramco continue to say that peak oil demand is still…

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