Port Qasim Authority gives the permission to PIBTL to Set up LPG Handling Facilities. In a recent notice to inform the exchange, Pakistan International bulk Terminal (PIBTL) has declared that “The Port Qasim Authority (PQA)” has permitted the company to make Liquefied Petroleum Gas handling facilities at its existing facilities.
In this regard, a supplementary Implementation Agreement will be implemented with the PQA.
PIBTL also revealed the exact amount of shareholding of Jahangir Siddiqui and Co Ltd in the company in a separate notification. According to which it amounted to a total of 158,830,638 ordinary shares.
To inform you, Pakistan International Bulk Terminal Limited was incorporated in 2010 with headquartered in Karachi, Pakistan.
Pakistan International Bulk Terminal Limited holds the construction, development, operation process and management of a coal, clinker, and cement terminal at Port Muhammad Bin Qasim on construct, operate, and transport basis.
Port services in Pakistan are provided by Port Qasim Authority to run all functions smoothly and accurately. The corporation gives sea-borne trade handling, cargo and freight handling, and warehousing services.
In order to facilitate the establishment of port based industrial and commercial units, it also engages in the stipulation and provision of land and infrastructure. The company is based in Karachi, Pakistan.
The company declared that PQA issued a certificate of successful completion to PIBTL for wrapping up of Coal Handling Plant System on the 9th of November, officially stating the project to be complete in all respects.
On the other hand, during the first quarter of FY 2018, PIBTL handled and managed more than 308,000 tons of Cargo and shipments whereas the company accounted a Net Loss after Tax of Rs. 1.158 billion with Earnings per Share of -0.78/share.
However, the step taken by Port Qasim Authority to give permission to Pakistan International bulk Terminal (PIBTL) to set up LPG Handling Facilities is appreciated by business authorities in country.