After five straight fortnightly cuts, the petroleum prices have started reverse journey owing mainly to higher international prices following flare up in the Middle East crisis. Informed official sources said the prices of major petroleum products — petrol and high speed diesel (HSD) — are estimated to go up by around Rs5.50 and Rs13 per litre, respectively, with effect from October 16 for the
Vehicles or means of transport used to move smuggled goods are now subject to immediate confiscation without the option of payment of a fine, under a recent amendment. The change, made to SRO 499 of 2009, empowers authorities to confiscate vehicles used for transporting smuggled goods as part of a decisive move to intensify the government’s anti-smuggling campaign. An official announcement b
The World Bank raised its growth forecast for South Asia to 6.4 per cent in 2024 from an earlier estimate of 6.0pc, citing quicker recoveries in crisis-hit countries such as Sri Lanka and Pakistan and the strength of domestic demand in India. “You have an emerging class of consumers in India that’s driving the economy forward, you have recoveries from crises in Sri Lanka and in Pakistan, you al
Saudi Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh on Thursday confirmed that the kingdom’s Manara Minerals was set to buy a stake in Barrick Gold’s Reko Diq gold and copper mine in the coming weeks. Barrick Gold owns a 50 per cent stake in Pakistan’s Reko Diq mine, with the remaining 50pc owned by the governments of Pakistan and the province of Balochistan. Barrick consider
Bulls retained their control at the Pakistan Stock Exchange (PSX) as shares surged more than 700 points on Tuesday. The benchmark KSE-100 index climbed 799.33, or 0.94 per cent, to stand at 85,709.62 points from the previous close of 84,910.29 points. Finally, the index closed at 85,663.97 points, up by 753.68 points or 0.89pc, from the previous close of 84,910.29. Mohammed Sohail, chief exe