Pakistan Stock Exchange (PSX) on Tuesday recorded its first decline following six consecutive positive sessions over institutional profit-taking coupled with uncertainty surrounding talks with the International Monetary Fund (IMF) for a new loan programme and geopolitical tensions. Earlier, trading commenced on a robust note, with the KSE-100 index surging to the intra-day high of 71,092.61 poi
Attock Cement announced on Tuesday the addition of a new production line with an installed capacity of 1.27 million tonnes per annum, expanding the country’s idle capacity at a time when construction activities have remained slow amid elevated inflation and record-high interest rates. The output capacity of the manufacturer of the Falcon brand has risen to a cumulative 4.30 million tonnes per y
In a press statement from the Lahore Chambers of Commerce and Industry (LCCI) on Tuesday, it was asserted that Pakistan holds the potential to become an economic leader, provided key economic issues such as devaluation, industrial closures, high utility prices, inflation, and high markup rates are collectively addressed. The statement expressed concern that these factors are dampening the confiden
President of the Korangi Association of Trade and Industry (KATI), Syed Johar Ali Qandhari, appealed to the government to rescind the recent hike in petroleum product prices, warning of dire consequences such as industrial closures, inflationary pressures, and a surge in unemployment if swift action is not taken. In a statement issued on Tuesday, he highlighted the pressing need to address chal
The potential escalation in the Middle East crisis pulled the rupee down to almost four-week low at Rs279.29 against the US dollar in the inter-bank market on Tuesday and sent gold to a new record high at Rs249,700 per tola (11.66 grams). According to State Bank of Pakistan’s (SBP) data, the rupee further depreciated 0.06%, or Rs0.17, and closed at a 26-day low at Rs279.29 against the greenback