The Petroleum Division has requested the Cabinet Committee on Energy (CCoE) to extend the deadline for signing upgrade agreements with five domestic refineries for six months until October this year, but most refiners smell a rat for the delay. “The government seems to be more focused on attracting foreign investment, which is no doubt important, but it needs to realise that foreign investment
Industrialists and analysts express growing concerns as political protests and wheat farmer demonstrations escalate, casting shadows over business activities and economic stability. The business community, already beset by high inflation and interest rates, feels that political issues overshadow economic priorities. “A rising tide of unrest and protests against the government has cornered th
Uncertainty loomed over the Pakistan Stock Exchange (PSX) on Tuesday as investors grappled with pre-budget concerns and reports about the International Monetary Fund (IMF) seeking an additional Rs1.3 trillion in taxes under a new loan programme. In the morning, trading began with a sharp dip as the KSE-100 index dived to around 72,700 points. However, it managed to rebound quickly and wipe out
Pakistani currency bounced back on Tuesday and appreciated Rs0.12 to Rs278.12 against the US dollar in the inter-bank market after a visiting Saudi business delegation signed investment agreements of billions of dollars. According to the State Bank of Pakistan’s data, the rupee had closed at Rs278.24 on Monday. The local currency has gained 10.42%, or almost Rs29, in the past eight months si
Citi Pharma Limited, the leading manufacturer of Paracetamol in Pakistan, has announced its venture into a joint partnership with a renowned Chinese firm. The objective is to locally produce 30 ingredients for medicines, aiming to reduce imports by approximately Rs10-15 billion annually. The company plans to establish a new production line, with an estimated investment ranging from Rs15-20 bill