China has extended the repayment period of a $2 billion loan to Pakistan by one year, offering much-needed financial relief and helping stabilise the country’s foreign exchange reserves. A senior official at the Ministry of Finance confirmed the development on Saturday, calling it a key financial support measure from China. The $2bn loan, originally due for repayment on March 24, has now bee
The removal of government support prices, along with low domestic rates, has affected the current sowing season, causing wheat farmers to switch to more profitable vegetables and cash crops, such as mustard and pulses. The Country Brief on Pakistan, published by the UN Food and Agriculture Organisation (FAO), says the area planted declined year-on-year since the government removed the minimu
Indicating a substantial cut in prices of petroleum prices by this weekend, the oil marketing companies (OMCs) have opposed the forced signing of ‘Take or Pay’ agreements with local refineries, arguing that the clause would unfairly burden them with financial risks. The dispute comes amid reports that price of petrol could decrease by Rs12 per litre and of high-speed diesel (HSD) by Rs8 per lit
Bulls took control of the trade floor at the Pakistan Stock Exchange (PSX) as shares climbed more than 1,400 points on Thursday. The benchmark KSE-100 index climbed 989.51 points, or 0.88 per cent, to stand at 113,243.27 at 11:56am. By 12:35pm, the index increased 1,253.77 points, or 1.12pc, to stand at 113,507.53 from the previous close. Finally, the index closed at 113,713.17, up by 1,459.
Iqbal Hussain was among many hoping for significant relief in commodity prices this Ramazan, especially after a sharp decline in the country’s inflation rate. The annual inflation, which soared to a record high of 38 per cent in May 2023, dropped to a near-decade low of 1.5pc in February, according to official data released this week. However, despite the dramatic decline, the prices of esse