Indicating a substantial cut in prices of petroleum prices by this weekend, the oil marketing companies (OMCs) have opposed the forced signing of ‘Take or Pay’ agreements with local refineries, arguing that the clause would unfairly burden them with financial risks. The dispute comes amid reports that price of petrol could decrease by Rs12 per litre and of high-speed diesel (HSD) by Rs8 per lit
Bulls took control of the trade floor at the Pakistan Stock Exchange (PSX) as shares climbed more than 1,400 points on Thursday. The benchmark KSE-100 index climbed 989.51 points, or 0.88 per cent, to stand at 113,243.27 at 11:56am. By 12:35pm, the index increased 1,253.77 points, or 1.12pc, to stand at 113,507.53 from the previous close. Finally, the index closed at 113,713.17, up by 1,459.
Iqbal Hussain was among many hoping for significant relief in commodity prices this Ramazan, especially after a sharp decline in the country’s inflation rate. The annual inflation, which soared to a record high of 38 per cent in May 2023, dropped to a near-decade low of 1.5pc in February, according to official data released this week. However, despite the dramatic decline, the prices of esse
The Public Accounts Committee (PAC) of parliament while examining audit objections concerning the Pakistan Atomic Energy Commission and Federal Board of Revenue on Wednesday voiced dissatisfaction over systemic and procedural shortcomings resulting in losses worth billions to the exchequer. During the session held under the chairmanship of Junaid Akbar, irregularities amounting to Rs1.15
Privatisation and Investment Minister Abdul Aleem Khan on Thursday said that the government would complete all the steps to privatise Pakistan International Airlines (PIA) during the next three months. As part of reforms urged by the International Monetary Fund (IMF), the Privatisation Commission said in April 2024 that it was putting on the block a stake ranging from 51 per cent to 100pc of th