Karachi April 24 2024: Pakistan Refinery Limited reported loss of PKR 1.2 billion for the quarter ended March 31 2024 due to drop in company’s refinery margins, according to company filing to the exchange.
Company reported gross loss of PKR 559 million for third quarter 2024 due to lower refinery margins compared to gross profit of PKR 4.5 billion booked last year in the same quarter.
Pakistan’s plans to deregulate fuel prices could lead refiners to halt planned upgrades worth up to $6 billion and force some refineries to close, some of the country’s top refiners said in a letter to the country’s oil regulator.
