The government does not like to see further devaluation of dollar against the rupee as it impacts both imports and exports, said currency dealers and experts in the interbank market. The dollar fell to a five-month low against the rupee, causing serious concerns for exporters. At the same time, the government fears that a cheaper dollar could lead to higher imports, which may disturb the curren
KARACHI: Pakistan Stock Exchange (PSX) on Thursday made a sharp U-turn as the KSE-100 index soared over 1,000 points, crossing the 65,000 mark in a giant leap that came in the backdrop of optimism about the last review of the International Monetary Fund’s $3 billion standby arrangement (SBA) and a reduction in bond yields. The bourse surged as soon as trading began and the uptrend continued
KARACHI: The Pakistani currency closed stable at a five-month high of Rs278.77 against the US dollar in the interbank market, buoyed by an uptick in the supply of foreign currency in the system. This marks the second consecutive working day of positive territory for the currency, observed on Thursday. According to data from the State Bank of Pakistan (SBP), the domestic currency improved by Rs0
ISLAMABAD: France is poised to re-enter Pakistan’s Liquefied natural gas (LNG) export market after an absence of over a decade, following a legal dispute that led to a French company withdrawing from the sector. During the previous Pakistan Peoples’ Party (PPP) administration, a contract for an LNG project was awarded to French firm, GDF-Suez (now ENGIE), which eventually ended up in the apex cour
KARACHI: Pakistani households have been left at the mercy of liquefied petroleum gas (LPG) black marketers, who are demanding significantly higher prices in the range of Rs300-400 per kg from consumers, who need the fuel to run their kitchens. The consumers, especially in the hilly areas of Gilgit-Baltistan (G-B), are being forced to pay exorbitant prices, which are much higher than the retail