SSGC continues gas theft crackdown

IN a crackdown against the menace of gas theft, as part of Operation Grift, an anti-gas theft campaign, SSGC’s Security Services and Counter Gas Theft Control Operations (CGTO) team discovered gas being supplied in Kuchlak, Balochistan, directly through a pipeline to a farmhouse for commercial purposes, according to a press release. The raiding team immediately disconnected the line.

As a regular procedure, legal action and raising of claims are being followed.

CGTO conducted joint raids on a shoe cottage factory and oil trading facility in North Nazimabad. They also raided 2,000 houses in Surjani Town Sector-8, finding illegal use of gas through SSGC’s system. Nearly 300 feet of illegal PE pipes were removed and legal action is being taken.

SSGC has also continued to make major inroads into the illegal use of suction boosters in industrial units by making regular raids of the factories and confiscating the compressors used. Legal action is taken against the lawbreakers.

SSGC has demonstrated zero tolerance against the menace of gas theft as it is the primary cause behind Unaccounted-for-Gas or line losses that negatively impact the Company’s financial.

Chevron Pakistan and Be Energy inaugurate Caltex pump

CHEVRON Pakistan Lubricants (Private) Limited and Be Energy Limited proudly announce the inauguration of the first flagship Caltex-branded fuel station in Karachi, as per a press release. This marks a significant milestone since the signing of the trademark licensing agreement between the two companies.

The newly unveiled flagship fuel station, Chishti & Sons, is situated in the prime area of Rashid Minhas Road Karachi and represents the fusion of Chevron’s expertise in the energy sector and Be Energy’s commitment to delivering exceptional customer experiences. This collaboration introduces a wide variety of quality products and customer-centric services, including Caltex with Techron fuel, which helps improve fuel economy and power.

“The inauguration of this Caltex-branded fuel station is a momentous occasion filled with excitement, as it signifies the realisation of our shared vision with Be Energy,” said Ahmed Zahid Zaheer, Country Chairman and General Manager, Chevron Pakistan.

Sindh Bank’s financial results

SINDH Bank announced its financial results for the first half of the current fiscal year. Despite the significant challenges faced by the financial industry and the global economy, the bank has overcome these hurdles and achieved growth and stability, as per a press release.

The bank registered an impressive growth in key financial indicators. During half a year, the bank earned a profit before tax (PBT) of Rs572m, registering an increase of 171pc, as compared to a loss before tax of Rs801m in June 2022.

The bank saw growth in deposits and accounts opened, with deposits increasing by 10.4pc to Rs246.2bn. Gross Advances were at Rs68.76bn and the number of accounts increased by 11.1pc to 637,475.

VIS Credit Rating Company Limited reaffirmed the Bank’s Long-Term Entity Rating of A+ (Single A Plus) and Short-Term Entity Rating of A-1 (A - One) in its report dated June 27, 2023.

NBP sponsors women’s ODI

THE National Bank of Pakistan (NBP), under the leadership of its President, Rehmat Ali Hasnie, proudly announces its role as the presenting sponsor for the Women’s One Day International (ODI) cricket series between Pakistan and South Africa, as per a press release.

This exciting development not only signifies NBP’s dedication to nurturing young cricketing talent but also underscores its commitment to the empowerment and recognition of women in sports.

Mr Rehmat Ali Hasnie, President of the National Bank of Pakistan, expressed his immense pleasure and honour as NBP embraced this pivotal moment in women’s cricket.

“Cricket transcends being just a sport; it becomes an emotion, especially in our part of the world. When women step onto the field, they carry not only the hopes of a match victory but also the dreams and aspirations of countless young girls who look up to them for inspiration. The courage, dedication, and resilience displayed by these athletes are truly commendable and serve as beacons for future generations.”

Published in Dawn, The Business and Finance Weekly, September 11th, 2023