Despite a massive cut in the benchmark interest rates, the private sector continued retiring loans as bank advances plunged 52 per cent in the January-March quarter. The State Bank of Pakistan (SBP) slashed its policy rate by a staggering 1,000bps to 12pc from an unprecedented level of 22pc since June 2024. The SBP data on Thursday showed that the private sector kept returning bank money it
The two gas utilities — SNGPL and SSGCL — have sought about 42 and 144 per cent increase in the prescribed gas prices, respectively, to meet their revenue requirements for 2025-26. The prescribed gas prices are revised twice a year under the law following determinations by the Oil and Gas Regulatory Authority (Ogra) on the basis of which the government sets the consumer gas prices for various c
After an overnight unprecedented bloodbath, the Pakistan Stock Exchange (PSX) showed a slight recovery as global markets rebounded from the heavy losses triggered by the US reciprocal tariffs and retaliatory measures, raising fears of a worldwide recession. Ali Najib, head of sales at Insight Securities, said the PSX exhibited some sign of recovery as the index opened with a gain of 1,100 point
Following a reduction in wheat prices, the rates for various types of flour have dropped in the wholesale market. However, only a few retailers have passed on this relief to consumers. Karachi Wholesalers Grocers Association (KWGA) Chairman Rauf Ibrahim said the wholesale price of flour No. 2.5 fell to Rs67 from Rs80 per kg and that of fine flour to Rs76 from Rs84 per kg over the past couple of
A senior US official on Wednesday underscored Washington’s strategic interest in Pakistan’s mineral sector, signalling a push for long-term cooperation in the development of critical mineral resources key to American advanced technologies. “Critical minerals are the raw materials necessary for our most advanced technologies,” Eric Meyer, senior bureau official for the Department of State’s Bure