Pakistan plans to establish an automotive processing zone on 150 acres at Port Qasim, Karachi, with the facility to be expanded in phases according to market demand, announced Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Wednesday. The decision was taken at a meeting attended by Port Qasim Authority (PQA) Chairman, Rear Admiral (Retd) Syed Moazzam Ilyas and members of
The Pakistani rupee extended its marginal gains against the US dollar on Wednesday. The local unit closed the day at 277.66, a gain of Re0.01 against the greenback. On Tuesday, the Pakistani rupee settled at 277.67 against the dollar. Meanwhile, the dollar traded sideways in early Asian dealings on Wednesday, shrugging off renewed attacks on shipping in critical waterways in the Middle East
The government has called for a fundamental shift in Pakistan’s automotive industry from a predominantly domestic-market orientation towards export-driven production, with policymakers seeking greater investment, productivity and global market access. Pakistan’s automotive industry has been identified as a key sector with the potential to drive the country’s high-value exports, as the governmen
Oil prices fell more than $1 on Thursday as forecasters loweredglobal oil demand projections for 2026 because of the disruptions from the US-Israeli war on Iran, though the supply constraints from the conflict provided a floor for the market. Brent futures dropped $1.29, or 1.5%, at $87.69 a barrel by 0100 GMT.US West Texas Intermediate (WTI) crude fell $1.30, or 1.6%, to $81.97. The Organ
The Pakistan Stock Exchange (PSX) extended its decline on Tuesday, with the benchmark KSE-100 Index losing 1,464 points as selling pressure intensified across cement, fertilizer, investment, and oil & gas exploration stocks. Market sentiment remained subdued as oil prices held near their highest level in more than a week amid fading prospects for a US-Iran agreement, raising concerns over conti