Change of Chairman of Byco Petroleum Pakistan Limited.

Karachi: Byco Petroleum Pakistan Limited informed Pakistan Stock Exchange that Mr. Muhammad Wasi has been appointed as Chairman and Independent Director of the Company with effect from January 01, 2021 in place of Mr. Akhtar Hussain Malik.

Byco Petroleum Pakistan Limited was incorporated in Pakistan as a public limited company on January 9, 1995. The foundations of the company are laid under the Companies Ordinance, 1984. The certificate of commencement of business was awarded to the company on March 13, 1995. Byco Oil Pakistan Limited is the parent company and holds 82.27% shares in the company. It is a wholly owned subsidiary of Byco Industries Incorporated, Mauritius which acts as the ultimate parent company. The company is principally engaged in the production, marketing and sale of petroleum products. The shares of the company are listed on Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office is situated at Karachi.

The company operates using two major activities namely Oil Refinery...