Moving swiftly in the wee hours to meet the deadline given to the International Monetary Fund (IMF), the Oil & Gas Regulatory Authority (Ogra) on Tuesday determined up to 10 per cent reduction in the average prescribed price of natural gas while providing enough material to the government to increase consumer gas rates by about 87pc with effect from July 1. Ogra “determines the revenue requirem
On the call of Pakistan Kisan Rabita Committee, farmers held protest demonstrations in 30 different districts of the country demanding start of the purchase of wheat from growers and arrest of the people involved in the wheat scandal. In Punjab, the protests were held in Lahore, Multan, Bahawalpur, Vehari, Jhang, Pakpattan, Chiniot, Kasur, Khanewal, Bahawalnagar, Dera Ghazi Khan, Burewala, Chis
Pakistan Stock Exchange (PSX), with the commencement of new week, snapped its rising spree and came under significant selling pressure owing to over-leveraged investor positions, futures contract rollover and pre-budget uncertainty, resulting in a drop of over 250 points. In the morning, the KSE-100 index had a robust start as it spiked to the intra-day high of 75,618.49 points. However, it qui
Pakistani currency on Monday depreciated Rs0.09 and closed at Rs278.30 against the US dollar in the inter-bank market as the International Monetary Fund (IMF) forecast further devaluation of the local currency over the next 13 months. The IMF expects the rupee to depreciate 18% to Rs329/$ by the end of June next year. According to the State Bank of Pakistan’s (SBP) data, the rupee had closed
Pakistani currency on Monday depreciated Rs0.09 and closed at Rs278.30 against the US dollar in the inter-bank market as the International Monetary Fund (IMF) forecast further devaluation of the local currency over the next 13 months. The IMF expects the rupee to depreciate 18% to Rs329/$ by the end of June next year. According to the State Bank of Pakistan’s (SBP) data, the rupee had closed