Aftab Maken ISLAMABAD: Despite its formidable position as Pakistan’s leading exploration and production (E&P) company, Oil and Gas Development Company Limited (OGDCL) is navigating a challenging landscape marked by declining production, a substantial drop in profitability, and persistent operational hurdles. While the company touts its vast exploration acreage and strategic …
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Aftab Maken ISLAMABAD: A recent analysis of Pak-Arab Refinery Limited (PARCO), a crucial joint venture between the Governments of Pakistan and Abu Dhabi, paints a concerning picture of the company’s financial health and strategic outlook, despite its significant national asset base. The report highlights a perilous mix of liquidity strain, …
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Aftab Maken ISLAMABAD: The National Assembly’s Standing Committee on Information Technology and Telecommunication has come down hard on Pakistan Telecommunication Company Limited (PTCL), recommending disciplinary action due to serious concerns about mismanagement, lack of transparency, and failure to cooperate with parliamentary oversight. The committee also sharply criticized the broader telecom …
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Aftab Maken ISLAMABAD: Pakistan International Airlines (PIA) recently trumpeted a “profit” of Rs 13.1 billion for the first half of FY2025, a claim that, on the surface, might suggest a miraculous turnaround for the beleaguered national carrier. However, a deeper dive into the government’s own State-Owned Enterprise (SOE) report reveals …
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Aftab Maken ISLAMABAD: While Pakistan State Oil (PSO) has announced a seemingly robust profit after tax of Rs 11.2 billion for the first half of FY25, up from Rs 7.7 billion in the same period last year, a closer look at the company’s financial health reveals a persistent and alarming …
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Losses mount despite top-line growth; Telenor deal adds to debt woe Aftab Maken ISLAMABAD: PTCL Group has posted a growth in consolidated revenues for FY2024, touching Rs 219.78 billion – up from Rs 188.66 billion last year – but the numbers tell only half the story. Beneath the surface, the …
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Aftab Maken ISLAMABAD: The President of Pakistan has issued the Virtual Assets Regulatory Authority Ordinance 2025, which comes into immediate effect across the country. This ordinance introduces a comprehensive legal framework for overseeing virtual assets and their service providers in the country. Under the ordinance, the Authority will function as …
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Aftab Maken ISLAMABAD: Federal Minister for Energy Awais Khan Leghari has said that, under the directives of the Prime Minister, significant progress has been made in improving governance and introducing reforms. Within one year, losses amounting to Rs 591 billion have been successfully reduced to Rs 399 billion. During the …
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Aftab Maken ISLAMABAD: Federal Minister for Power Awais Ahmed Khan Leghari has informed the National Assembly’s Standing Committee on Power that the country is suffering electricity theft of Rs 250 billion annually. He further said that K-Electric can now draw up to 600 MW from the national grid, bringing its …
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Aftab Maken ISLAMABAD: Finance Minister, Senator Muhammad Aurangzeb, today spearheaded crucial discussions on two key government initiatives: the ongoing implementation of the National Tariff Policy and the imminent launch of the Prime Minister’s Fan Replacement Program. These meetings underscore the government’s commitment to boosting economic competitiveness and promoting energy efficiency. …
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