Byco Petroleum reported a gross profit of Rs. 11.2 billion but a net loss of Rs 2.67 billion, largely due to weak demand, high exchange rate, inventory losses, and an increase in finance costs. The company is experiencing tough market conditions as the spread of COVID-19 hurts demand but can withstand this period. Karachi, April…
Karachi, September 24, 2019: Byco Petroleum Pakistan Ltd. gross turnover increased by 17 percent from the previous year to Rs. 251 billion following an increase in oil prices and Rupee’s devaluation. Pakistan’s economic growth slowed considerably to nine-year lows of 3.3% in the previous fiscal year. The oil sector witnessed a 22% decline in consumption….
London, August 15, 2019: Pakistan’s High Commissioner to the United Kingdom, Mohammad Nafees Zakaria, on Thursday called on the Foreign and Commonwealth Office (FCO) Minister Andrew Murrison MP and highlighted the violation of United Nations Security Council resolutions on Jammu and Kashmir committed by India. A statement issued by the Pakistan High Commission here said…