Pakistan’s largest oil refiner Cnergyico has ordered a second shipment of US crude after finding its debut purchase commercially viable, its vice chairman said on Wednesday, paving the way for more imports. Vitol will deliver a 1 million-barrel cargo of West Texas Light (WTL) crude in November under Cnergyico’s term supply arrangement with the European trader, Vice Chairman Usama Qureshi said.
The federal government has introduced a subsidised housing financing scheme aimed at helping Pakistanis from middle and lower-income groups build or purchase affordable homes. The initiative, named “Mera Ghar — Mera Ashiana,” was outlined in a circular sent by the State Bank to banks, Housing Building Finance Corporation (HBFCL), and microfinance banks (MFBs) on Wednesday. The scheme seeks t
Taking a step towards digitalisation and facilitate victims of fraud cases, the National Accountability Bureau (NAB) has devised a system for disbursing their recovered money from the fraudulent through online. “Addressing difficulties faced by victims of various financial scams in receiving their amounts, NAB has decided to transfer recovered funds to victims online,” says an official press re
Senate Chairman Syed Yousaf Raza Gilani on Wednesday said Pakistan’s pharmaceutical exports had reached a record $457 million in the last fiscal year, registering a 34pc growth - the highest increase in over two decades. He was speaking to participants of the 8th Pharma Summit, which was organised by Pakistan Pharmaceutical Manufacturers Association (PPMA). The event brought together leading ph
Buying rally continued at the Pakistan Stock Exchange (PSX), amid optimism over government measures to address the crippling circular debt, with the benchmark KSE-100 Index gaining over 500 points during the opening minutes of trading on Thursday. At 10:05am, the benchmark index was hovering at 158,758.04, a gain of 521.37 points or 0.33%. Buying momentum was observed in key sectors includin