The stock market extended its record-setting spree to a sixth straight session on Monday amid anticipation of a more significant cut in the policy rate, which fuelled the shifting of money from banks to the equity market, propelling the KSE 100 index to settle above 90,000 for the first time. Initially, the benchmark KSE-100 index suffered a loss of 261.24 points, hitting an intraday low at 89,
Saudi officials on Tuesday lamented the economic strain of regional conflicts as the country’s sovereign wealth fund told an investor forum it was cutting the proportion of its overseas investments. Despite a performance by South African opera singers and a remote appearance by Elon Musk, the mood at the glitzy Future Investment Initiative (FII), sometimes called “Davos in the desert”, was clou
Expressing deep concern over the financial mismanagement of Pakistan Post, Privatisation Minister Abdul Aleem Khan has urged the department’s management to abolish all vacant positions, cut unnecessary expenses and increase revenue to ensure the institution’s survival. “Day and night efforts are needed to prevent the collapse of Pakistan Post,” Mr Khan said while chairing a meeting of the ‘Foca
The two gas utilities — SNGPL and SSGCL — have sought up to a 54 per cent increase in prescribed prices to meet their revenue requirements for the current fiscal year (FY25). Gas prices are revised twice a year under the law, based on determinations by the Oil & Gas Regulatory Authority (Ogra), which the government uses to set consumer prices for various categories. Ogra has announced public
In a move to bring property valuations closer to market rates, the Federal Board of Revenue (FBR) has raised property valuation rates to up to 80 per cent across 56 cities, aiming to boost revenue collection and redirect investment into more productive sectors of the economy. The new rates will take effect from Nov 1. This latest revision covers 12 new cities, including Bannu, Chiniot, Kotli