Category: Shortcode

The company did not announce any cash dividend in spite of record quarterly income. The unusual jump in profit was because of “huge inventory gains” and penal income recorded during the quarter, said a note by Topline Securities. Quarterly sales increased to Rs523bn — up 82pc year-on-year and 14pc quarter-on-quarter — mainly because of higher volumetric sales that went up 13pc from a year ago. In addition, an increase of 83pc in international oil prices also helped sales grow. Other income of the company surged to Rs8.9bn from Rs3.1bn a…

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The seventh nuclear power plant, formally known as K-3, is expected to achieve Commercial Operation Date (COD) by March 2022. According to sources familiar with the matter, after the commissioning of K-3 and decommissioning of K-1, the total installed capacity of six nuclear power plants would reach 3,620MW. The power plant being set up at Karachi is in the final stages of commissioning. The plant is likely to begin commercial operation by next month after the completion of operational and safety tests. With the induction of K-2 and K-3 into…

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PAPCO, which operates pipeline system to transport fuels from seaports in Karachi to major oil refineries and cities across the country, was revamping its existing 26-inch 786km long fuel line for multi-product use for a long time due to the enormity of the project. The company’s oil pipeline consists of two components. One is Karachi-Mahmoodkot (District Muzzafargarh Punajb) (KMK) and the other Mahmoodkot-Faisalabad-Machhike (MFM). According to sources, it was a strategic project, involving construction of new diesel and motor gasoline storage tanks, gantries for product delivery and transmix processing facility…

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Despite the fact that the Economic Coordination Committee (ECC) has approved an extension in the incremental consumption package for the steel industry six months ago, Karachi industries are still waiting for an official notification. Businessmen of the city have regretted paying an extra bill owing to the delay in implementation of the decision. “Operating an industry is extremely difficult as we have to struggle hard to get our legitimate right,” remarked Pakistan Association of Large Steel Producers (PALSP) Secretary General Syed Wajid Bukhari in a statement on Wednesday. According to…

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It has completed the sophisticated project in collaboration with the local and the US Embassy-assisted initiatives, APP reported, and added that “The NUST through its indigenous and US Embassy assisted initiatives, managed to develop a locally made conventional air quality measuring gadget in collaboration with local technicians/engineers”. The Head of Department, Institute of Environmental Sciences and Engineering (IESE), Dr. Muhammad Fahim Khokhar told APP that the project was completed recently after being launched in 2012, and is the result of a decade of untiring efforts. “The effort had started from…

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