KARACHI: The rejection of the summary for convening a National Assembly session by President Arif Alvi ended the overnight political optimism for the smooth formation of the PML-N-PPP coalition government in the Centre, as a result the benchmark KSE 100-share index closed the topsy-turvy session in the red on Tuesday. Ahsan Mehanti of Arif Habib Corporation said stocks remained under pressure
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Senior Vice President (SVP) Saquib Fayyaz Magoon has said that the business, trade and industrial community is in a state of shock and disbelief at a threefold increase in container terminal charges. The terminal fee has gone up since Karachi Gateway Terminal Limited (KGTL) took over the management of the container termin
ISLAMABAD: Cnergyico Pk Limited, the country’s largest refiner, is eyeing more than $1 billion in investment following the introduction of a new government policy aimed at stimulating the industry. Following its investment, Cnergyico plans to enhance its production of Euro-V compliant motor gasoline and high-speed diesel, simultaneously decreasing its furnace oil output in response to its decli
ISLAMABAD: Pakistan has decided to follow the Turkish model through outsourcing the management of power distribution companies (DISCOs) in an attempt to reduce losses, bring efficiency and attract investment. To adopt the Turkish model, the government of Pakistan has agreed with the International Monetary Fund (IMF) that it will engage a transaction adviser for long-term concessions by the end
KARACHI: Moody’s Investors Service has left Pakistan’s long-term issuer rating unchanged at ‘Caa3’, suggesting the country is facing high credit risk, as doubts arise over the new government’s ability to swiftly negotiate a new International Monetary Fund (IMF) loan programme after the current one expires in April 2024. The global rating agency maintained a ‘stable outlook’ on the credit rating