Pakistan State Oil (PSO) has waived its late payment interest charges on overdue fuel supply payments from five Independent Power Plants (IPPs), whose agreements with the government have been terminated. The decision was announced after extensive negotiations between the Power Division, a task force, and the IPPs involved. The agreements for terminating the Power Purchase Agreements (PPAs) and
Pakistan's information technology exports maintained their growth as they fetched $292 million in September 2024, up 42% from the same month of last year and higher than the last 12-month average of $280 million. It is the 12th consecutive month of year-on-year (YoY) growth in IT exports, beginning October 2023. According to the State Bank of Pakistan (SBP), IT exports for the first quarter
Pakistan's current account recorded a five-month high surplus of $119 million in September 2024, primarily driven by strong inflows of workers' remittances from overseas Pakistanis and an improvement in export earnings, including IT exports. This marks the second consecutive month of a current account surplus, helping stabilise the rupee, bolster foreign exchange reserves, and enhance the count
Bulls dominated the trade floor at the Pakistan Stock Exchange (PSX) on Monday as shares gained more than 800 points. The benchmark KSE-100 index gained 815.22 points, or 0.96 per cent, to stand at 86,065.31 points from the previous close of 85,250.09 at 1:54pm. Finally, the index closed at 86,057.51 points, up by 807.42 points or 0.95pc, from the previous close. Mohammed Sohail, chief execu
Democracy and competitive capitalism make a difficult, but precious, marriage of complimentary opposites,” writes Martin Wolf, associate editor and chief economic commentator of the Financial Times London, in his book on ‘The Crisis of Democratic Capitalism’. In turn, he argues that competitive democracy induces politicians to offer policies that would improve the performance of the economy and