The Pakistan Stock Exchange (PSX) witnessed a sharp reversal on Thursday as early gains were wiped out by intensive selling, triggered by renewed political uncertainty. The benchmark KSE-100 index, which had climbed to the intra-day high of 151,250 points, tumbled later, hitting the low of 148,273. It closed the day at 149,235, down 1,356 points, or 0.90%. The sell-off emerged after the Supr
It is not only Jazz that has massively overcharged consumers, other telecom service providers have also pocketed billions and the matter has now landed in a Senate panel for investigation. The Senate Standing Committee on Information Technology and Telecommunication has called an urgent meeting on August 25 to probe the issue. Earlier, it was reported that Jazz had overcharged its consumers Rs6
The Asian Development Bank (ADB) will provide a $410 million financing package to help develop the Reko Diq copper mine, one of the world's largest untapped deposits, which will be operated by Barrick Gold, two sources said on Thursday. Pakistan hopes the project will serve as a springboard to draw more foreign interest to its mineral sector, particularly to exploit rare earth deposits. The cou
Pakistan stands on the edge of a $131 billion regional automobile trade corridor, where even a 5% share could yield $6.5 billion in annual exports — 70 times higher than current levels. With its strategic geography and a vendor base already validated by leading Japanese, Korean and European automakers, Pakistan has the ingredients to become a significant player. Yet, a new report warns that abrupt
The Auditor General of Pakistan (AGP) has identified a record over Rs375 trillion worth of irregularities, financial mismanagement and loss of public money in the affairs of the federal government and departments and entities working under its control. The AGP expressed grave concern that only 13 per cent of public funds were directed towards the public good, raising significant questions about