Replies sought from govt, Ogra on oil price raise - Newspaper dawn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dawn.com Daily Mail and Mail on Sunday newspapers.
KARACHI: Byco Petroleum Pakistan Ltd reported financial results for the six months ended Dec 31, 2020 recording stellar growth of 4.5 times in profit-after-tax (PAT) to Rs961 million translating into earnings per share (EPS) at Rs0.18, from PAT at Rs213m and EPS at Rs0.04 in the comparable period of the previous year.
In a press statement, the company’s CEO Mr. Amir Abbassciy, commented: “Byco expects that discussions between the Government of Pakistan and oil refineries will be productive in developing a long overdue refining policy”.
Meezan Bank earnings jump 46pc
Meezan Bank Ltd on Feb 18 announced that it posted a PAT of Rs22.17bn and EPS at Rs15.67 for the year ended Dec 31, 2020, showing impressive growth of 46pc from PAT at Rs15.23bn and EPS at Rs10.77 in the earlier year on the enhanced capital of Rs14.147bn.
TAXILA: The Hassanabdal administration on Monday launched a crackdown against fuel shops allegedly involved in illegal provision of liquefied petroleum gas (LPG) in rural areas.
A team of the local administration along with municipal administration and Civil Defence led by Assistant Commissioner Zunaira Jalil visited various urban localities of the tehsil and sealed one shop for illegally providing petrol and diesel to consumers.
Two other outlets were sealed where LPG cylinders were being refilled illegally.
Talking to journalists, Ms Jalil said the outlets had been operating illegally without any safety measures.
She said illegal petroleum agencies, mini-petrol pumps and illegal LPG decanting shops were causing loss to the national exchequer, at the same time endangering human life and properties.
Business
February 18, 2021
KARACHI: The government needs to get out of the power sectorâs business to bring perennial structural problems to an end once and for all, energy experts said on Wednesday.
Speakers, during a webinar, agreed that the government should gradually privatise power sector to improve its efficiency.
âOverreaching influence of the government and the ministry is creating problems for institutions, like Nepra [National Electric Power Regulatory Authority],â said Saadia Qayyum, energy specialist at the World Bank. âWe need to strengthen Nepraâs capability. At times, governments do not notify changes in tariffs due to political and other reasons.â The webinar was titled âPakistanâs power policiesâensuring access and affordabilityâ. Miftah Ismail, former finance minister said the power sector should move towards the privatisation in order to solve its long-standing issues. âAlbeit challenging, this needs to be
Pakistan has been experiencing governance and policy failures in the power sector for the past many decades and the only solution to it is to move away from the single buyer model and privatise the entire sector, said former finance minister Miftah Ismail.