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    PPL   PK0081801018

PAKISTAN PETROLEUM LIMITED

(PPL)
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End-of-day quote The Pakistan Stock Exchange  -  2022-08-04
70.32 PKR   +1.08%
07/06Pakistan Petroleum Limited Announces Resignation of Muhammad Zubair as Director
CI
06/02PAKISTAN PETROLEUM : Continuation of Production from the Sui Mining Lease
PU
05/26PAKISTAN PETROLEUM : Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Regulations
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Pakistan Petroleum : China reach Pakistan

04/03/2020 | 07:01am EDT

The novel corona virus has disrupted business activities leading to the closure of factories, markets, shops, schools and all modes of transport. To lessen the hardship of labourers, workers and daily wagers, the federal, as well as the provincial governments, have not been taken serious steps, though announcement of relief package should have been made earlier. Labour community and daily wagers are looking with questionable eyes to government, local foundations, NGOs and other associations for relief as they are worst affected due to lockdown throughout the country.

In such circumstances, the youth of Kandhkot and Kashmore approached to this correspondent and told that Kashmore was an industrial district especially having massive gas, petrol reserves and even second largest thermal power station of the subcontinent and also the second-largest gas field of PPL in kashmore. Despite all these resources, the citizens of the district have been deprived of basic Corporate Social Responsibility (CSR) Initiatives as promised by oil and gas companies through their Memorandum of Understanding (MoUs) with federal and provincial governments.

According to the agreement, they have to spend 10 per cent of their profit on social activities such as building Infrastructure, Roads, buildings, establishing standard schools, colleges hospitals and obliged to provide emergency relief in times of natural disasters and epidemic situations.

Despite the district government requests and the echoing pleas of people who have lost their livelihood, the corporate sector especially Pakistan Petroleum Limited and OGDCL stand inactive though, they are earning millions on daily basis. They have completely left the people at the mercy of God as they have turned a deaf ear towards the echoes of heart wailing for the help and financial assistance to support and feed their families including children.

The lack of ample food has started affecting children and there are cases of malnutrition in the families of labourers and daily wage workers as well as skilled labourers. It would redress the problems of people If the allocated funds under CSR are placed at the disposal of district administration with representation from the corporate sector, This will ultimately soothe the misery of the stranded labourers, daily wagers and those who ran any type of small business to support their families financially.

The relief package announced by federal and provincial governments still awaited to reach the poor segments of the society despite deduction of amount from the salaries of government employees in sindh. The people looking towards the rulers for any relief and rationing as lockdown in sindh enters the second week. The relief package of 20 million for each district released by sindh government must reach the deserving people immediately to provide temporary relief in times of emergency. The relief package must be monitored by personnel from the secretariat, Army and judiciary to ensure that relief must reach the actual beneficiary.

On the other hand, Al-Khidmat foundation is the only welfare organization in district Kashmore that is doing wonders by providing rationing, vegetables and other required items to the poor families. They have also placed their volunteers, ambulances and hospitals at the disposal of federal and provincial government. The welfare activities of Al-Khidmat Foundation during Covid-19 lockdown are commendable. It is high time that the government should direct the corporate sectors especially lucrative Oil and gas industry to pledge their funds for this global emergency and help save the lives of the people who became either jobless or lost their earning potential due to lockdowns. If Government fails to provide any relief package for the labourers and daily wages workers such as barbers, tailors, drivers, rickshaw riders and cobblers etc, they will die of hunger before corona virus .

© Pakistan Press International, source Asianet-Pakistan

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Financials
Sales 2022 187 B 831 M 831 M
Net income 2022 72 785 M 323 M 323 M
Net Debt 2022 - - -
P/E ratio 2022 2,58x
Yield 2022 6,75%
Capitalization 191 B 848 M 848 M
Capi. / Sales 2022 1,02x
Capi. / Sales 2023 0,92x
Nbr of Employees 2 607
Free-Float 25,1%
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Number of Analysts 9
Last Close Price 70,32 PKR
Average target price 148,67 PKR
Spread / Average Target 111%
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Managers and Directors
Moin Raza Khan Deputy MD-Exploration & Business Development
Mohammad Khalid Rehman Senior Manager-Finance
Shahab Rizvi Chairman
Mian Imtiazuddin Independent Non-Executive Director
Abid Sattar Independent Non-Executive Director
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