Bears took over the trading floor of the Pakistan Stock Exchange on Thursday after Pakistan Tehreek-i-Insaf nominated candidates for prime minister and Punjab chief minister as it also started contacts with different parties for the formation of coalition governments. Also, the Pakistan Peoples Party’s reluctance to join Shehbaz Sharif’s cabinet despite announcing support to elect him as prime
The disparity in the value of the Pakistani currency at the interbank and open markets further widened to Rs2.27 on the second consecutive working day amid political uncertainty. This fresh increase in the gap on Wednesday strengthened earlier signs of market volatility returning to the currency. The difference stretched to 0.81% after the domestic currency maintained a downturn in open market
Hyderabad Chamber of Small Traders and Small Industry (HCSTSI) President Muhammad Farooq Shaikhani has hit out at the Economic Coordination Committee (ECC) for its decision to make a massive increase of 65% in gas tariffs. He appealed to all political leaders and the country’s rulers to withdraw the gas price hike promptly to restore confidence of the business community and encourage collaborat
The federal cabinet has refused to accord its approval to the implementation mechanism established for the Digital Information Infrastructure Initiative to protect cyberspace and mitigate the risks associated with cyber-attacks. The project is being launched with an allocation of Rs5 billion out of information and communication technology (ICT) research and development (R&D) funds as bridge fin
Pakistan’s large-scale manufacturing (LSM) industries reached a 21-month high output, with strong support coming from agriculture, petroleum products, wearing apparel, and pharmaceutical sectors in December 2023, hinting at a gradual turnaround in economic activities in the current fiscal year 2023-24. The Pakistan Bureau of Statistics (PBS) reported on Thursday that LSM output increased by 3.4