In line with a demand by the International Monetary Fund (IMF), the federal cabinet has given its nod to a proposed amendment in the Civil Servants Act 1973 that will bind government officials (BPS 17 to 22) to share details of their assets along with those owned by their family members. The cabinet meeting chaired by Prime Minister Shehbaz Sharif on Wednesday approved all decisions of its leg
Pakistan State Oil (PSO) delivered a stable performance in 1HFY25, posting 44 per cent increase in its unconsolidated net profit to Rs11.2 billion, translating into earnings per share (EPS) of Rs23.81 compared to 1HFY24 profit of Rs7.8bn and EPS of Rs16.51. The petroleum giant earned an unconsolidated profit of Rs7.2bn (EPS: Rs15.35) during 2QFY25. In a meeting held on Thursday, the company’
AsiaPak Investments, a private investment firm with operational assets in Pakistan and Hong Kong, and Middle Eastern oil and gas company Montage Oil have bid for a 75.01 per cent stake in Lotte Chemical Pakistan, according to a notice filed by the manager to the offer with the Pakistan Stock Exchange on Thursday. “The due diligence and price discovery for a share price agreement is yet to h
With system losses at a record 16.16 per cent, the Oil and Gas Regulatory Authority (Ogra) on Thursday notified up to 2pc increase in the price of Regasified Liquefied Natural Gas (RLNG) for sale to consumers by the two Sui gas companies for February. Karachi-based Sui Southern Gas Company Ltd (SSGCL) serves consumers in Sindh and Balochistan, and Ogra approved an increase in its system losses
The State Bank of Pakistan’s (SBP) foreign exchange reserves plunged by over half a billion dollars in less than a month. On Thursday, the central bank announced that its forex holdings recorded an outflow of $252 million to $11.166 billion during the week that ended on Feb 7. However, the SBP reserves witnessed a steep decline of $559m from $11.725bn on Jan 10, mainly due to external