Shell Pakistan Ltd (SPL) on Monday reported a 62.85 per cent decline in its profit-after-tax (PAT) to Rs1.3 billion for the half year ended on June 30 compared to Rs 3.5bn in the same period of 2023. The board of directors announced that the company’s sales rose slightly to Rs223bn in January-June compared to Rs215bn in the corresponding period last year.SPL maintained its market share through
The federal cabinet on Tuesday approved abolition and merger of 82 departments and agencies falling under six federal ministries and divisions into 40 in the first phase of the rightsizing of the federal government. The meeting of the federal cabinet, presided over by Prime Minister Shehbaz Sharif, at the same time constituted a committee to suggest measures required for protection of rights of
Pakistan State Oil (PSO), the country’s largest oil marketing company, reported on Tuesday a surge of 180 per cent in its profit-after-tax (PAT) to Rs15.9 billion in FY24 compared to Rs5.66bn in FY23. The company’s board also announced a dividend of Rs10 per share, representing a 100pc payout for FY24. PSO’s net sales rose to Rs3.74 trillion from Rs3.54tr, defying economic headwinds, includi
The French aid agency has allocated Rs1.2 billion in concessional finance to 90 SMEs in Women Ventures and GreenFin Innovations in collaboration with local partners. The financing arm of French agency Proparco, in partnership with Karandaaz Pakistan and Parwaaz Financial Services Ltd (PFSL), has agreed to support small business finance in Pakistan. The partnership was announced on Tuesday wh
The Petroleum Division of the Ministry of Energy on Tuesday distanced itself from the policy of gas disconnection to industrial Captive Power Plants (CPPs) and alleged that massive capacity payments, over Rs2.1 trillion for the current fiscal year alone in the power sector, had been contracted for the elite’s air conditioners and debt financing. This was the crux of the Senate Standing Committe