The stock market continued its record-setting spree on Tuesday amid growing optimism about reaching a Staff-Level Agreement with the International Monetary Fund (IMF) soon, propelling the index to a new peak above 81,000 intraday. Ahsan Mehanti of Arif Habib Corporation said stocks closed at an all-time high amid speculation in the earnings season at PSX. This was led by selected oil and bankin
The price of 250ml packaged milk has gone up from Rs75 to Rs95 and that of a one litre from Rs295 to Rs360. Welcome to the new world of high inflation! The government has set an inflation target of 12 per cent for this fiscal year. But skyrocketing of prices from the beginning of the year from July 1 indicates that meeting this target would be difficult. In the last fiscal year, consumer inf
Commerce Minister Jam Kamal said on Tuesday that the post-budget issues faced by local part manufacturers would be resolved to promote ‘Made-in-Pakistan’ products. The minister extended this assurance during a meeting with the Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) and representatives of mobile phone manufacturers. An official announcement issued afte
The country’s leading industrial chambers and associations have called for the urgent implementation of the Competitive Trading Bilateral Contract Market (CTBCM) regime, which would enable bulk power consumers to purchase electricity directly from generators, bypassing the government. The demand arose during a conference jointly organised on Tuesday by Renewables First and Pakistan Environment
Earlier this year, Saudi Arabia indicated it might sell off some of its European debt holdings if G7 countries proceeded with seizing nearly $300 billion of Russia’s frozen assets, Bloomberg reported on Tuesday. Sources familiar with the matter disclosed to Bloomberg that Saudi Arabia’s finance ministry expressed opposition to this proposed confiscation, intended to aid Ukraine, during discussi