The European Union (EU) on Friday reminded Pakistan that trade benefits enjoyed by the country under the Generalised Scheme of Preferences Plus (GSP+) depend on the progress made in addressing a list of issues, including human rights, and tangible reforms remain essential, a statement by the mission said. The EU is Pakistan’s second-largest trading partner, with the GSP+ status allowing the co
Stocks at Pakistan's bourse closed lower on Wednesday, driven by selling pressure due to rollover of futures' contracts and concerns over a cautious policy rate cut by the State Bank of Pakistan (SBP). Analysts cited rupee instability, political uncertainty and doubts over ability to meet the International Monetary Fund (IMF) tax collection targets, as factors behind bearish activity. As a resu
An increase in both global and local gold prices was observed following a significant drop a day earlier. According to reports, the price of gold per ounce increased by $22 in the international bullion market, reaching a new level of $2,763. Meanwhile, gold per tola surged in the local markets by Rs2,300, reaching Rs 288,700. The price of gold per 10 grams also saw an increase of Rs 1,972,
The stabilisation of Pakistan's economy may receive another jolt in the year 2025 as neighbouring country Afghanistan's secret aid has been suspended by the new Trump administration in the US. Market pundits are warning against smuggling of food and non-food items from Pakistan to Afghanistan. "Out of all worries, we anticipate a huge smuggling of the US dollar to Afghanistan, which can once ag
A cabinet minister has feared misuse of 63% of cheaper industrial gas in power generation by factories, stating that owners of captive power plants (CPPs) may exploit any lacuna and can also try to seek stay orders from courts against price hike. Minister of State for Finance Ali Pervaiz Malik has urged the government to notify a transparent mechanism so that gas priced at Rs2,150 per million B