Against high hopes, the government has sought revision in the base electricity tariff for next fiscal year, proposing only 30 paise to a maximum of Rs2.25 per unit reduction in consumer rates under seven different scenarios. Only in one unlikely case of normal circumstances and stable exchange rate at Rs280, the average base tariff would reduce by Rs2.25 per unit in fiscal year 2025-26 to Rs24.
The Pakistan Stock Exchange (PSX) closed in negative territory on Tuesday as investor sentiment weakened despite a policy rate cut by the State Bank of Pakistan (SBP). The move, aimed at easing monetary conditions, failed to satisfy market expectations for a deeper reduction, especially in light of rising geopolitical tensions and global uncertainty. The index opened on a strong note, howeve
Gold prices in Pakistan extended the sharp upward trend on Tuesday, mirroring a global rally driven by renewed buying from China and market concerns over possible US tariffs on pharmaceutical imports, while investors await direction from the US Federal Reserve's upcoming policy decision. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola inc
Oil prices climbed about 4% on Tuesday on signs of higher demand in Europe and China, rising tensions in the Middle East and as buyers emerged the day after prices collapsed to a four-year low on a decision by OPEC+ to boost output. Brent futures rose $2.37, or 3.9%, to $62.60 a barrel at 11:12 am (1512 GMT). US West Texas Intermediate (WTI) crude gained $2.42, or 4.2%, to $59.55. OPEC+ decided
The Senate Panel on Tuesday has urged the Commerce Ministry to address confusion surrounding Pakistan's barter trade policy with Iran, Afghanistan, and Russia, warning that unclear frameworks risk undermining trade potential. The Senate Standing Committee on Commerce Chaired by Senator Anusha Rehman took up the barter trade issues with Iran. The high-level committee meeting focused on mechan