Despite a weaker rupee amid falling State Bank of Pakistan’s foreign exchange reserves, the stock market snapped a three-session losing streak on Thursday as bulls drove bears out on aggressive value-hunting across the board, propelling the benchmark KSE 100 index above the 113,000 level. Topline Securities Ltd said the market saw a positive turnaround, with the index dipping to an intraday low
In a bid to attract industrial captive power plants (CPPs) to the national grid and absorb surplus electricity capacity, the power division on Thursday directed all public and private electricity distribution companies to sign service-level agreements (SLAs) for improved power supply. In separate letters, the power division also shared with all the exWapda distribution companies (Discos) and K-
The fuel cost for electricity consumers of all state-owned distribution companies (Discos) would reduce by only 28 paise per unit in February, notwithstanding the Rs1.04 per unit lower cost on account of consumption in December 2024. This was disclosed by state-owned Central Power Purchase Agency (CPPA) Chief Executive Officer Rehan Akhtar at a public hearing called by the National Electric Pow
The Senate Standing Committee on Cabinet Secretariat has ordered a probe into the sale of adulterated Liquefied petroleum gas (LPG), commonly used in homes for cooking. The Senate committee meeting on Thursday, chaired by Senator Rana Mahmoodul Hassan, took notice of the LPG tanker explosion in Multan on Monday, which killed eight people. The meeting discussed the issue of adulterated LPG
The foreign exchange reserves of the State Bank of Pakistan (SBP) declined $76 million to $11.372 billion during the week ended on Jan 24 due to external debt repayments, reported the central bank on Thursday. The country’s overall reserves fell by $137m to $16.052bn, including the commercial bank’s holdings, which rose to $4.74bn during the week under review.