Foreign Direct Investment (FDI) jumped by 51.7 per cent to $258 million in March compared to $170m in the same month last year. Higher FDI inflows amid prevailing economic and political uncertainties, particularly after the general elections, would help the new government improve the country’s image abroad through economic reforms. However, the State Bank of Pakistan data released on Monday
Finance Minister Muhammad Aurangzeb has stated that Pakistan is on track to secure a new loan from the International Monetary Fund (IMF), adding that the money lender had been “very receptive in terms of agreeing to consider a larger, longer programme”. He made the remarks in an interview with The National published on Monday. The finance minister and his team were in Washington last week to
Mari Petroleum Company Ltd (MPCL) announced on Monday that it had discovered a new hydrocarbon resource in Daharki, Sindh. The state-owned company said in a statement that the well produced 1,040 barrels of oil and 2.5 million standard cubic feet per day of associated gas during the Shawal-1 exploratory well test. Shawal-1 well was spud-in on Jan 27 and successfully drilled 1,136 metres into
Shanghai Electric Power Company withdrew its offer to acquire up to 66.4 per cent of K-Electric Ltd, the manager of the offer said in a notice to the Pakistan Stock Exchange on Monday. The deadline for making a firm offer for the K-Electric stake expired on April 20 and Shanghai Electric has withdrawn its bid, Arif Habib Ltd, the manager said in the notice to the bourse. KE is the only elect
Pakistan recorded the highest-ever monthly IT exports of $306 million in March, posting a 37 per cent rise over the corresponding month last year. The official data showed that the IT exports grew 19pc over the preceding month. The previous highest monthly export number was $303m in December 2023, and the industry players have attributed this surge to conducive government policies. Zohaib