Karachi, Hascol Petroleum Limited informed Pakistan Stock Exchange that the company has already filed a Scheme of Agreement under which its debts can be formally restructured within the court system. Under that process the company will soon be calling its first creditors meeting with the banks.
“Hascol Petroleum Limited was incorporated in Pakistan as a private limited company on March 28, 2001. On September 12, 2007 the Company was converted into a public unlisted company. The Company is engaged in the business of procurement, storage and marketing of petroleum, chemicals, LPG and related products.
The Company obtained oil marketing license from Ministry of Petroleum and Natural Resources in the year 2005 and acquired assets of LPG licensed company in the year 2018.
The total numbers of shares are 999,120,680. The Earnings per share is (129.94) in 2019 which was (1.08) in 2018. The Company had a loss of Rs. 25,873,829,000 which was 214,978,000.”