NEPRA has imposed another fine of Rs. 10 million on the National Transmission & Despatch Company (NTDC) for its failure to satisfy the Authority in the matter of the revision in the minimum loading limit of Lalpir and Pakgen power plants. Earlier, the power regulator imposed an accumulative fine of Rs 20 million on NTDC…
K-Electric’s net profit has dropped by 29 percent to Rs 8,524 million in FY 2022 as compared to a net profit of PKR 11,998 million during FY 2021. This profit is 29% lower as compared to the previous fiscal year. The Earnings Per Share (EPS) for the year also dipped to 0.31 rupees per share…
United States (US) plants to expand trade with Pakistan and announces to provide access to the beef market and help with cotton seed technology. Mr. Donald Blome, Ambassador of the USA to Pakistan, called on Federal Minister for National Food Security and Research Tariq Bashir Cheema to discuss matters of mutual interest. Federal Minister Tariq Bashir…
Pakistan Petroleum Limited (PPL)’s 71st Annual General Meeting approved a 5% cash dividend for shareholders. It held a meeting on October 26, 2022. Members agreed to the financial statements and the auditor’s report for the fiscal year that ends on June 30, 2022. A final cash dividend of 5 percent on both ordinary and convertible…
Pakistan’s largest oil and gas explorer, Oil & Gas Development Company (OGDC), posts net earnings of Rs53.3 billion (EPS Rs12.4) during 1QFY23, up 59% YoY, along with an interim cash dividend of Rs1.75, similar to last year. However, analysts anticipated higher DPS than last year due to better cash flows, despite the piling up of…
KE electricity bills in October 2022 are likely to come down by Rs 4.7 per unit as the National Electric Power Regulatory Authority (Nepra) indicated on Tuesday that the power tariff for KE consumers will be reduced by Rs 4.70 per unit due to a fuel adjustment for the month of September 2022. The reduction…
The National Electric Power Regulatory Authority (Nepra) has allowed KE increasing power tariff by Rs 12.68 per unit on account of quarterly adjustments. The power regulator in a statement said that K-Electric initially requested a quarterly adjustment for the 4th quarter of FY 2021-22 of Rs.14.852/kWh. However, subsequently, KE revised its request to Rs. 14.533/kWh….
In order to support Pakistan’s leading financial institution, Khushhali Microfinance Bank Ltd. (KMBL), and women-owned businesses, the U.S. government, through the U.S. International Development Finance Corporation (DFC) and the U.S. Agency for International Development (USAID), has entered into a new partnership. Through their alliance, MSMEs would have better access to financing with lenient collateral requirements….
Sage Venture Group Limited, a British Virgin Islands-registered special-purpose entity wholly owned by AsiaPak Investments Limited, has acquired controlling interests in IGCF GP and certain limited partnership interests in the Fund, thereby becoming an indirect, non-controlling KE shareholder. In response to this development, two KE board members have resigned. The thirteen members of KE’s Board…
The launching of 5G in Pakistan has been delayed due to political change in the country and is expected now to be rolled out in June 2023. The PTI government had given a deadline for launching 5G Technology in December 2022. Later this deadline was revised to March 2023. Key Takeaways Political Change Cause a…