The Pakistan Stock Exchange (PSX) extended its record-breaking rally on Thursday as the KSE-100 index closed at a fresh all-time high and approached the 172,000 mark. Buying momentum was driven by improved investor confidence following better-than-expected November current account data and reduction in Pakistan Investment Bond (PIB) yields. Key stocks including Engro Holdings, Fauji Fertiliser
The World Bank is pushing Pakistan to develop a road map for gas-sector reforms to unbundle the public utilities aimed at bringing efficiency, controlling losses and curtailing circular debt. The bank also wants the government to unbundle the distribution and transmission network of gas utilities and set up more firms by splitting the existing two companies. At present, two public gas utilit
Minister for Finance and Revenue Senator Muhammad Aurangzeb stated on Thursday that the national drive towards digitisation had gained strong momentum, with performance targets being pursued through a coordinated approach that encompasses digital infrastructure, payment systems and rails, as well as the digitisation of government-related payments. He said the push was aimed at broadening digital a
As the government projects an alarming increase of Rs491 billion in circular debt within six months, a cabinet body on Thursday approved Rs200 billion power subsidies to keep the flow of the debt within limits agreed with the International Monetary Fund. The Economic Coordination Committee of the Cabinet that took the decision also approved Rs11.5 billion for discretionary spending on the parli
Maple Leaf Cement Factory Limited (MLCF) has launched a public offer to acquire up to 11.72% of Pioneer Cement Limited (PIOC) at Rs478.43 per share, following a prior agreement to purchase a 58.03% stake at the same rate. The combined transaction, representing 69.75% of PIOC’s shares, amounts to Rs75.8 billion ($270.5 million), according to filings submitted to the Pakistan Stock Exchange (PSX)