Browsing: Business

The upcoming “Petroleum Conference 2024” in Islamabad, featuring Prime Minister Anwar-ul-Haq Kakar, will focus on addressing challenges in Pakistan’s petroleum sector, fostering collaboration among stakeholders, and seeking solutions to boost investment and mitigate the heavy reliance on energy imports. The event offers a vital platform for networking and policy discussions aimed at advancing the country’s exploration and production industry.

Mari Petroleum Company Limited posted a strong financial performance in 1HFY24, with a 57% YoY increase in net profit driven by higher gas and oil production, increased wellhead prices, and Pak Rupee depreciation. The company declared an interim cash dividend of Rs. 98 per share for 2QFY24.

In FY 2023-24, foreign companies repatriated $750 million in profits, marking a significant 245% YoY increase, driven by sectors like Petroleum Refining and Food. The resolution of profit backlog contributed to this surge.

The Election Commission of Pakistan (ECP) is making the SMS service 8300 free starting next Monday, enabling voters to access constituency and polling station details conveniently. ECP officials also clarified voting eligibility for individuals with expired CNICs and those with new CNIC tokens, emphasizing transparency in the electoral process.

Atlas Honda Limited impresses with a notable profit surge, reaching Rs6.08 billion for the nine months ending December 2023, driven by a robust 12.63% growth in its top line. Despite challenges, the company maintains a strong financial stance, reflecting resilience in its performance.

Pakistan’s telecom sector thrived, recording a 17% revenue growth at Rs. 850 billion in FY23, showcasing resilience amid economic challenges, as reported by the Pakistan Telecommunication Authority. The achievement includes a remarkable 90% accessibility to mobile services nationwide and significant growth in mobile and broadband users, contributing positively to the country’s economic landscape.

Easypaisa empowers Pakistani women with the “Audio Nikahnama” feature, allowing them to comprehend marriage documents through audio explanations in seven languages. The initiative, accessible via a missed call or the easypaisa app, includes sign language options, making it inclusive for those with hearing disabilities.

The Pakistani rupee secured its eighth straight gain against the US Dollar, closing at 279 after touching 278 briefly. Despite positive trends, concerns about political developments loom before the upcoming February election.

Ministry of Energy announces the first national Oil, Gas and Minerals Career Expo, ‘Fuelling Futures’, fostering industry-academia collaboration and offering students a unique platform to explore career opportunities in the energy and mining sector. Register at www.careerexpo2024.com to connect with leading companies and industry experts.

Fauji Fertilizer Company Limited (FFC) marked a robust financial performance, posting a 48% YoY surge in its annual profit after tax, reaching Rs. 29.67 billion. The company’s substantial contributions to national revenue and a declared cash dividend affirm its resilience in a challenging economic environment.