Karachi November 1 2022: During the first quarter of fiscal year 2023, PIBTL has handled 2,133,006 tons cargo against 2,782,723 tons in the same period last year which is in line with the industry demand of imported coal.
“The management of the Company is focusing on strategies to bring more efficiency in cargo handling operations, with the objective of providing unparalleled services to its customers” says Company Chairman Capt. Haleem Ahmad Siddiqui.
Company recorded revenue of Rs 3.4 billion in 1QFY23 compared to Rs3.1 bn in the same period last year. During the period, the Company has posted net loss after taxation primarily due to the impact of currency devaluation on USD denominated foreign loans.
The Company has entered into a Build Operate Transfer (BOT) contract with Port Qasim Authority (PQA) on November 06, 2010 for construction, development, operations and management of a coal and clinker / cement terminal at Port Muhammad Bin Qasim for a period of thirty years.