Karachi, Pakistan Refinery Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on September 11, 2019.
The agenda of the meeting was discussion of profit and loss account for year ended June 30, 2019 which portrayed a loss of Rs. 5,821,123 with loss per share 18.92 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Pakistan Refinery Limited was incorporated in Pakistan as a public limited company in May, 1960. The foundations of the company are based on the Companies Ordinance, 1984. The company is engaged in the production and sale of petroleum products the domestic market and Pakistan defense forces. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is situated in Karachi.
The refinery is operating at two locations. Main processing facility is located at Korangi Creek with supporting crude berthing and storage facility at Keamari. The design capacity of the refinery is 2.1 million tons per annum. The company is a hydro skimming refinery designed to process various imported and local crude oil to meet the strategic and domestic fuel requirements of the country. The refinery has a capacity of processing 47,000 barrels per day of crude oil into a variety of distilled petroleum products such as furnace oil, high speed diesel, kerosene oil, jet fuel and motor gasoline etc.
The symbol “PRL” is being used by the stock exchanges for the shares of Pakistan Refinery Limited.