Fauji Fertiliser Company Ltd posted a net profit of Rs5.3 billion in the April-June quarter, up 59 per cent from a year ago, the company reported on Tuesday. Its earnings in the first half of 2023 remained Rs13bn after increasing 36pc year-on-year. In addition, the company also announced a cash dividend of Rs3.15 per share in the second quarter of 2023, taking the cumulative pay-out in the f
Pakistan’s energy sector can save around $8.6 billion over the next decade by implementing improved power production strategies. The Policy Research Institute for Equitable Development (PRIED) and a research institution, Renewables First, released earlier this week a jointly conducted independent study, which shows ineffective planning has led to the setting up of expensive and inefficient powe
Bank advances to the private sector plunged by almost 87 per cent to Rs211 billion in FY23 against Rs1,612bn in the preceding fiscal year, reflecting the repercussion of record high interest rates and economic slowdown. The State Bank’s latest data issued on Tuesday revealed that the private sector did not borrow to invest in expansion as most of the borrowing was meant for short-term working c
The increase in petroleum dealers’ margin on petrol and diesel in four equal fortnightly hikes of 41 paise per litre (total Rs1.64) will become effective from Sept 1. Pakistan Petroleum Dealers Association (PPDA) Chairman Abdul Sami Khan on Tuesday said that after a detailed discussion in the presence of the Oil and Gas Regulatory Authority chairman, Oil DG and the managing director of PSO on M
Guaranteeing that the caretaker set-up, as well as the next government, will adhere to the country’s agreement with the International Monetary Fund (IMF), Prime Minister Shehbaz Sharif on Tuesday assured international donors that funds given for flood victims will be spent judiciously. Addressing the 3rd meeting of the International Partners Support Group (IPSG), formed in the wake of the Res