Karachi Chamber of Commerce and Industry (KCCI) President Muhammad Jawed Bilwani has urged the State Bank of Pakistan (SBP) to reduce the policy rate by 400 basis points in the upcoming Monetary Policy Committee (MPC) meeting as inflation witnessed sharp deceleration to 4.86 per cent in November. Drastic policy rate cuts would align real interest rates closer to sustainable levels and make borr
The federal government on Thursday asked all the four provincial governments to clear their electricity bills amounting to Rs150 billion in order to avoid power cuts and financial loss to the national economy. In separate letters, Power Minister Awais Ahmad Khan Leghari sought personal intervention of the four chief ministers to help clear dues outstanding against their departments. He warne
Following a brief pause, the Pakistan Stock Exchange (PSX) on Wednesday saw a resurgence in investor interest as the KSE-100 index rebounded sharply and rose over 1,900 points to a new record high. Market optimism was fuelled by expectations of a policy rate reduction in the monetary policy committee meeting on December 16, after a significant drop in inflation to 4.9%, its lowest in over six y
Pakistan's telecom industry is awaiting strategic recommendations from the National Economic Research Associates, Inc (NERA), a consultancy firm hired by Pakistan Telecommunication Authority (PTA). NERA is tasked with crafting a comprehensive framework for the allocation of 5G spectrum, seen as pivotal for driving innovation and overcoming industry challenges. PTA's collaboration with NERA h
Gold prices continued to rise for the third consecutive day on Wednesday, reaching Rs280,500 per tola with an increase of Rs3,100, which came in line with the global trend. The price of 10-gram gold hit Rs240,484, up Rs2,658, reported the All Pakistan Sarafa Gems and Jewellers Association. Internationally, bullion prices saw an uptick of $31 to $2,693 per ounce, it said. Interactive Commodities