ISLAMABAD: The Sui Southern Gas Company Ltd (SSGCL) on Thursday accused ‘front men’ of Liquefied Petroleum Gas (LPG) market operators of making complaints before the government institutions to block state-owned entities’ retail business for creating shortages and black marketing the product for personal gains. “Most of the complainants are self-proclaimed stakeholders and they themselves do not
KARACHI: The formation of a new government and positive signals from the International Monetary Fund have brought down the dollar to a five-month low against the rupee, reflecting a growing confidence in the stability of the exchange rate. For the last three months the exchange rate remained stable at close to Rs 280 in the interbank market. In fact, the rupee has kept rising inch by inch again
For the second consecutive session this week, shares at the Pakistan Stock Exchange (PSX) on Wednesday traded in the red as bears dragged the benchmark index down sharply by 753 points. The KSE-100 index contracted by 753.26 points, or 1.16 per cent, to stand at 64,048.44 from the previous close of 64,801.70. It had reached a low of 63,856.51 during the session. Shahbaz Ashraf, chief investm
Muhammad Aurangzeb, a former chief executive of Habib Bank Limited (HBL) with extensive experience in the financial sector, has taken the reins as Pakistan’s new finance minister. He inherits a daunting economic landscape, grappling with intertwined issues like inflation, unemployment, and significant budget and current account deficits. A note by Topline Securities stated that the investors wer
An International Monetary Fund (IMF) mission is arriving in Pakistan for a second and last review of a $3 billion standby arrangement this week, the finance ministry said on Wednesday. The four-day review begins on Thursday, said the ministry. Islamabad secured the last-gasped rescue package last summer to avert a sovereign default. “Pakistan has met all structural benchmarks, qualitative