Russia has pledged extensive support to Pakistan across key industrial sectors, including the local assembly of electric vehicles, such as buses, to enhance market competitiveness. As per the protocol signed between the two nations, cooperation in the supply and assembly of electric vehicles will be prioritised. The Russian company Sinara-Transport Machines JSC has shown keen interest in this c
The Oil and Gas Development Company Limited (OGDCL) has successfully revived a heavy oil well at its Rajian Oil Field in Chakwal district, boosting production by 1,000 barrels per day (bpd). According to a press release, the Rajian-3A well, suspended in 2020 due to formation challenges, was restored as part of OGDCL's optimisation efforts. Located within the Gujar Khan Exploration License, the
Business leaders and industrialists strongly criticised the insufficient 2% cut in the interest rate announced by the State Bank of Pakistan (SBP) on Monday, describing it as a disappointing initiative. They urged the government to review the decision immediately in the larger interest of economic growth. Leading business leader and Pakistan Stock Exchange (PSX) Director Ahmed Chinoy said the g
US businesses in Pakistan are playing a pivotal role in fostering economic growth, creating jobs, and promoting women's empowerment, according to remarks shared during a gathering of the American Business Forum (ABF) in Lahore. As per a press statement released on Monday, over 80 US companies operating in Pakistan employ 120,000 workers directly and support over a million indirectly, driving lo
Gold prices in Pakistan fell on Monday, mirroring a decline in the international market. The price of gold per tola in the local market dropped by Rs800, settling at Rs277,000. This follows a significant Rs5,000 drop per tola in the previous trading session. On the global front, gold prices fell by $8 per ounce, with the international rate standing at $2,658 per ounce, as reported by the All-Pakis