The PML (N) generally known to be business friendly and pro industrialization, but during the current tenure, it has been reportedly deadly for the industry. While the industrialization remained limited to power and sugar sector for obvious reasons, textile was worst hit and now the fertilizer industry is in line to the disastrous policy.
According to local research house report, Engro Corporation (ENGRO) announced 1QCY18 NPAT of PRs4.19bn (EPS: PRs8.01), up by a massive 48% YoY. The result was above markets expectation of NPAT PRs3.78bn (EPS: PRs7.23) as both key subsidiaries Engro Fertilizer (EFERT) and Engro Polymer (EPCL) posted above expected results.
A dinner reception hosted by the Karachi Chamber of Commerce and Industry (KCCI) and the Businessmen Group (BMG) to mark 18 years of Public Service of Businessmen Group from KCCI’s platform at PAF Convention Center recently.
Chairman Businessmen Group (BMG) and Former President of the Karachi Chamber of Commerce and Industry (KCCI), Siraj Kassam Teli, while strongly criticizing the passage of Gas Infrastructure Development Cess (GIDC) Bill 2015 by the Parliaments, urged the business and industrial community of Karachi, particularly the textile sector, to lodge protest against this anti-business move of the government.