Latest news with #Rs355
Business Recorder
22-07-2025
- Business
- Business Recorder
Loss-making chemical maker in Pakistan pegs revival hopes on BMR
The management of loss-making Sitara Peroxide Limited (SPL), a chemical manufacturer, is pinning its revival hopes on a planned Balancing, Modernization, and Replacement (BMR) initiative, backed by fresh capital injection and bank financing. As per the report, made available to the exchange on Tuesday, the company's sponsors have planned to further inject Rs355 million in the company through disposal of assets of associated company which shall be utilized for Balancing, Modernization and Replacement (BMR) in addition to financing from banks. 'This BMR include implementing the latest and most efficient production technology through the conversion to slurry bed catalyst technology from fix bed catalyst technology. 'This upgrade will allow for greater efficiency and productivity in the production process and will enhance the production capacity of existing plant by 40% and will result in significant reduction in cost of production of the company,' read the report. Sitara Peroxide looks to 'generate funds through various sources' as shutdown bites While sharing the financial results for the of half year ended on December 31, 2023, Sitara Peroxide said the company incurred a net loss of Rs76.371 million in comparison with loss for the corresponding half year at Rs220.06 million. Meanwhile, it said that the BMR will enhance current production capacity of plant from 30,000 tons per annum to 40,000 tons per annum along with better yield and efficiency. The listed company shared that it remains in active negotiations with the technology and plant & machinery suppliers and has already made certain advance payment. 'The management of the company is confident for BMR and viable operations,' it said. Sitara Peroxide Limited incorporated in Pakistan as a public limited Company under the Companies Ordinance, 1984 (Repealed with the enactment of the Companies Act 2017 on May 30, 2017) and is listed on Pakistan stock exchange. The principal activity of the company is manufacturing and sale of hydrogen peroxide (H2O2) and Sitara Safe (disinfectant).
Business Recorder
18-07-2025
- Business
- Business Recorder
Gold price per tola gains Rs2,500 in Pakistan
Gold prices in Pakistan increased on Friday in line with their gain in the international market. In the local market, gold price per tola reached Rs357,600 after a gain of Rs2,500 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs306,584 after it accumulated Rs2,143. On Thursday, gold price per tola reached Rs355,100 after a loss of Rs900 during the day. The international rate of gold also increased on Friday. The rate was at $3,351 per ounce (with a premium of $20), a gain of $25, as per APGJSA. Meanwhile, silver price per tola increased by Rs48 to reach Rs4,012.
Business Recorder
04-07-2025
- Business
- Business Recorder
Gold price per tola decreases Rs1,500 in Pakistan
Gold prices in Pakistan declined on Friday in line with their decrease in the international market. In the local market, gold price per tola reached Rs355,500 after a loss of Rs1,500 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs304,783 after it shed Rs1,286. On Tuesday, gold price per tola Rs357,000 after a gain of Rs800 during the day. The international rate of gold decreased on Friday. The rate was at $3,335 per ounce (with a premium of $20), a loss of $15, as per APGJSA. Meanwhile, silver price per tola remained unchanged at Rs3,871.
Business Recorder
11-06-2025
- Business
- Business Recorder
Rs1trn set aside for PSDP
ISLAMABAD: The budget 2025-26 allocated Rs1,000 billion for federal Public Sector Development Programme while provincial Annual Development Plans earmarked 2,869 billion. A separate allocation has been envisaged for state-owned entities, ie, Rs355 billion against Rs196.839 billion last fiscal year. The budgeted allocation for 2024-25 was Rs1,400 billion and the current year is lower allocation which indicates a decline of 28.5 percent next fiscal year. During the year the government reduced it to Rs1.1 trillion due to narrow fiscal space. The highest allocation under the PSDP has been earmarked for transport at Ra 225 billion with roads (Quetta-Karachi dualisation, Sukkur Hyderabad motorway, Eastbay Expressway accounting for a total cost of 501 billion rupees), water resources 184 billion rupees in spite of Pakistan being a water stressed country and climate allocated a mere 5.26 billion rupees though Pakistan is a major climate stressed country. Budget 2025-26: Pakistan targets 4.2% growth as Aurangzeb presents proposals 'for a competitive economy' Climate resilience projects include urban flood strategy and spatial planning 106 million rupees, green Pakistan 2.25 billion rupees, green skills and innovation 450 million rupees and biosafety and SDG reporting 300 million rupees. Three ongoing dams have been allocated the following amounts: Bhasha dam 60 billion rupees, Dasu 20 billion rupees, Mohmand 15 billion rupees while K-IV electric water supply has been budgeted 12 billion rupees and rural electrification and solarisation 10 billion rupees. Merged districts have been allocated a budget of 70 billion rupees and special areas (AJK and GB) 74.5 billion rupees. Health services which witnessed a major inflationary impact last fiscal year are budgeted at 24.7 billion rupees while IT and telecom, with potential to emerge as a major source of foreign exchange earnings budgeted at 23 billion rupees. The government has budgeted 61 billion rupees for Higher Education Commission, 4.7 billion rupees for NAVTTC Skill programme, 14 billion rupees for Pakistan Education Endowment, 5 billion rupees for cancer hospital Islamabad and 10 billion rupees for hepatitis and diabetes control. The PSDP handout states that Uraan Pakistan, a vision for the future, is our pledge, with no region ignored, no citizen forgotten, no potential wasted. Copyright Business Recorder, 2025
