KARACHI: A consortium of Engro Fertilisers Ltd (EFL), Fatima Fertilisers and Fauji Fertilisers will invest over $300 million in the Gas Pressure Enhancement Facilities (GPEF) project at the Mari network to ensure the availability of gas for domestic urea production and safeguard the food security. “Our expected share in capital expenditure in this project is over $100m, Engro Fertilisers Chief
WASHINGTON: The US State Department has conveyed a clear message to Pakistan’s new rulers, emphasising the importance of collaboration with the International Monetary Fund (IMF) and economic reforms for stability. In response to a set of questions from Dawn, a State Department spokesperson underscored the enduring partnership between the two nations, stating, “We value our long-standing partne
KARACHI: After a positive start on Wednesday, the stock market came under selling pressure as a weaker rupee and surging external debts amid uncertainty about new IMF conditions kept investors nervous as a result the benchmark KSE 100-share index closed in the red. Cautious investors opted to stay on the sidelines as the new government was preparing to start the final IMF review under the $3bn
KARACHI: Pakistan Stock Exchange (PSX) on Wednesday remained under pressure as investors exercised caution ahead of the monetary policy announcement in mid-March and potential negotiations with the International Monetary Fund (IMF) for a new loan package. In the morning, trading kicked off with a spike and the market climbed during initial hours. Buying activity was observed throughout the firs
KARACHI: The latest petroleum refinery upgradation policy offers financial incentives, encouraging Pakistan’s industry to significantly increase the production of high-premium products. The policy aims to double the output of petrol and boost diesel production by 47% in the coming years. This multibillion-dollar and time-consuming initiative is expected to drastically reduce the import of refin