The government earned Rs 107.696 billion from 7,850 foreign ships that arrived at Port Qasim in Karachi and Rs 573.92 million from Gwadar Port during the last five years (2021–25). In a written reply to questions by members during the Question Hour session of the National Assembly on Wednesday, Minister for Maritime Affairs Muhammad Junaid Anwar said that the type break-up of ships is: containe
The All Pakistan Textile Mills Association (APTMA) has urged Commerce Minister Jam Kamal to take immediate measures to safeguard the country’s export sector amid regional energy supply disruptions. In a letter addressed to the minister, the APTMA chairman drew attention to the ongoing geopolitical crisis in the region and the disruption of shipping through the Strait of Hormuz. The situation
Asian shares rallied on Thursday with a decline in U.S. Treasuries pointing to a tentative recovery in risk appetite that has been hammered by the escalating war in the Middle East. South Korea’s KOSPI gauge recovered its steep losses in the prior session following a rally on Wall Street on hopes the United States and Iran will seek an off-ramp from hostilities. Oil and gold traded higher.
Gold rose on Thursday as the widening Middle East conflict drove investors towards the safe-haven asset, while a softer dollar also lent support to bullion prices. Spot gold climbed 0.8% to $5,177.26 per ounce by 0249 GMT. US gold futures for April delivery were up 1% at $5,186.40. The US dollar eased from a more than three-month high hit earlier this week, making greenback-priced gold le
Oil prices rose on Thursday amid growing concern over the prolonged closure of the Strait of Hormuz, as the US-Iran war chokes off vital Middle East oil and gas flows while production facilities limit output. Brent crude was trading up $1.67, or 2.05%, at $83.07 per barrel by 0141 GMT. US West Texas Intermediate crude rose $1.94, or 2.60%, to $76.60. The US–Iran war widened on Wednesday af