The Prime Minister’s Steering Committee for Gemstones approved a series of reforms on Tuesday to revitalise the sector, with a key decision to bring the industry under the Ministry of Industries. The meeting, chaired by Minister for Privatisation Abdul Aleem Khan, included stakeholders such as federal ministers, secretaries, senior officials and private sector representatives. They discussed
The State Bank’s Monetary Policy Committee (MPC) will convene tomorrow (Thursday) to decide on the country’s monetary policy, including the key interest rate, amid demands for a major rate cut. The committee “will meet on Thursday, Sept 12, 2024, to decide about the monetary policy. Later on, the SBP will issue the Monetary Policy Statement through a press release on the same day”, the central
Pakistan Stock Exchange (PSX) on Monday faced a downward trajectory amid volatile trading as the KSE-100 index dipped over 280 points, following a broad slump in global equities and political instability worries. In the morning, the index kicked off trading on a promising note, reaching its intra-day high of 79,214.27 points. However, the early optimism quickly vanished when the bourse reversed
Pakistani currency depreciated Rs0.13 and closed at Rs278.70 against the US dollar in the inter-bank market on Monday, partly reversing earlier gains owing to the uptick in demand for the greenback for oil imports. According to the State Bank of Pakistan (SBP) data, the rupee had closed up at Rs278.57 against the dollar on Friday. A leading analyst said the latest decrease in the currency ca
Oil futures edged up on Monday as the risk of production disruptions from a potential hurricane approaching the US Gulf Coast helped prices steady after last week's heavy losses. Brent crude was up 16 cents, or 0.23%, to $71.22 a barrel at 1315 GMT while West Texas Intermediate crude futures were 19 cents, or 0.28%, higher at $67.86. Brent prices had fallen in each of the past six trading se