Mari Petroleum Company Limited (PSX: MARI) has received an exploration license for mineral extraction in Balochistan, the company informed the Pakistan Stock Exchange on Friday.
“The Directorate General Mines & Minerals Balochistan has granted an Exploration License (EL-186) and allotted an area of 501 sq. km to Mari Petroleum Company Limited (PSX: MARI) for mineral extraction near Dalbandin, District Chagai, Balochistan,” the filing stated.
“This is in line with the MPCL’s strategy to diversify into near core areas and its commitment to contributing to the growth of the mineral mining sector of Pakistan,” the filing added.
Mari Petroleum Company Limited is a public limited company incorporated in Pakistan on December 4, 1984, under the repealed Companies Ordinance, 1984. MPCL is principally engaged in the exploration, production, and sale of hydrocarbons.
At the time of filing, the company’s scrip at the bourse was Rs. 1,670, up 0.86 percent or Rs. 14.18 with a turnover of 108,476 shares on Friday.
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I’ll always root and smile for the local industry, local investments, local debts being used for a progressing Pakistan. As a Pakistan I can buy a share of this company and be part of the growth and property it has brought and could bring in the future.
The saddest part is that companies/corporate’s are taxed to 83% of their final income, and property / trader mafia is left undebated at a tax rate of less than 1%. When people start crying over tax on property, they don’t realise that they will be paying that tax one way or the other, through inflation and currency depreciation.
Pakistan, and Pakistanis’ need to invest in businesses, not rotten plots that bring 0 worth to the economy.
Yes well said bro.its the bitter truth ,our country men only like to earn easy money in days and nights without any hard work.plots are like a lottery while investing in real business requires hard work,dedication and takes time to establish thats the true development of a country.