ISLAMABAD/KARACHI: Oil and Gas Development Company Ltd (OGDCL) on Thursday announced the commencement of production from its exploratory Baloch-2 well in the Sembar formation, located in Sanghar district of Sindh. The company had announced the gas condensate discovery from the Baloch-2 well on August 30, 2024, and brought its production to the system, a statement said. The well, situated wit
Reiterating their concerns over the proposed acquisition of Telenor Pakistan by PTCL, Jazz and Wateen informed a three-member bench of the Competition Commission of Pakistan (CCP) on Thursday that the combined entity would be able to manipulate tariff structures at their discretion. The fifth and the last hearing in the Phase II review of PTCL’s acquisition of Telenor and Orion Towers Ltd was c
ISLAMABAD: On the instructions of the International Monetary Fund (IMF), the government has formally started rationalising the Public Sector Development Programme (PSDP) and established matrix-based principles for identifying and financing future development projects. On Thursday, Planning Minister Ahsan Iqbal chaired a meeting of a special committee formed by the prime minister. The meeting
The banks’ advance-to-deposit ratio (ADR) remained at 39.3 per cent last month — much below the red line of 50pc, which attracts a 15pc incremental tax. The latest data shows that the ADR increased by 90 basis points month-on-month, but fell by 579bps year-on-year to 39.3pc. The government imposed a 15pc tax in the budget for the current fiscal year on all banks whose ADR was below 50pc.
Pakistan Stock Exchange (PSX) on Monday staged a remarkable recovery, fueled by encouraging economic indicators and some degree of political stability. The KSE-100 index surged past 86,000 with gains of over 800 points, reflecting investor optimism and confidence. The surge was driven by across-the-board buying following approval of constitutional amendments by the National Assembly (NA). Earli