Bulls dominated the trade floor on Wednesday as shares at the Pakistan Stock Exchange (PSX) surged more than 1,100 points after a successful review of the International Monetary Fund (IMF) bailout programme. The benchmark KSE-100 index climbed 1,390.46 points, or 1.19 per cent to stand at 118,023.62 from the previous close of 116,633.16 at 9:22am. Finally, the index closed at 117,772.31, up
One was to send the changes to the net metering policy back to the energy ministry for reconsideration. And the other was to reinstate a tax rebate allowed to researchers and teachers in higher education institutions which everyone was told suddenly in December 2024 had been withdrawn in the budget announced in June 2022. In both instances, we had a story that was rather typical of how things a
THE finalisation of a deal between Pakistan and the IMF on the first Extended Fund Facility programme review and a new arrangement that will enable Islamabad to access additional funds under the Resilience and Sustainability Facility is a much-needed shot in arm for a wobbly economy. It should also put an end to speculations engendered by departure of the IMF team without signing the customary
The Public Accounts Committee (PAC) on Tuesday voiced displeasure over the non-submission of a report on sugar crisis and called the secretaries of industries, commerce and food security ministries for a briefing on it PAC Chairman Junaid Akbar Khan reminded officials that a report had been requested but was yet to be presented. Consequently, the committee summoned the secretaries of three m
As a formal feasibility study confirmed more than $60 billion worth of copper and gold reserves at the Reko Diq project in Balochistan at prevailing prices, three state-owned energy sisters have more than doubled their funding commitment close to $1.9bn. Three SOEs — Oil and Gas Development Company Ltd (OGDCL), Pakistan Petroleum Ltd (PPL) and Government Holdings (Pvt) Ltd (GHPL) — had origina