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District

Board of directors meeting of Hi-Tech Lubricants Limited

August 22, 2022

Karachi, Hi-Tech Lubricants Limited informed Pakistan Stock Exchange that board of directors meeting of the company held on August 19, 2022 at Lahore. The agenda of the meeting to consider and approved the budgets and plans for six months i.e. July-December of the fiscal year 2022-2023.

Hi-Tech Lubricants Limited was incorporated in Pakistan on 1984. The Principal Activity of the Company is to procure and distribute petroleum products. During 2017, Oil and Gas Regulatory Authority (OGRA) has granted license to establish an Oil Marketing Company (OMC), subject to some conditions.

On 31 May 2019, Oil and Gas Regulatory Authority (OGRA) has granted permission to the Company to operate new storage facility at Sahiwal and marketing of petroleum products in province of Punjab.

The total numbers of shares are 116,004,000. The Earnings per share is (0.35) in 2020 which was (3.75) in 2019. The Company had a loss of Rs. 40,118,000 in 2020 which was 434,817,000 in 2019.