Share prices oscillated within a narrow range on Wednesday before closing on a slightly higher level on the back of unfavourable economic sentiments and political instability. Arif Habib Ltd said investors remained on the sidelines even though the exploration and production sector caught the limelight on expectations about a gas price hike. Buying interest in selected blue-chip stocks helped
Prime Minister Shehbaz Sharif on Wednesday expressed the coalition government’s resolve to complete the current $7bn Extended Fund Facility programme with the International Monetary Fund (IMF). Pakistan entered a $6bn IMF programme in 2019, which was increased to $7bn earlier this year. The programme’s ninth review is currently pending with remote talks being held between IMF officials and the
The business community of Khyber Pakhtunkhwa on Wednesday urged Pakistan and Afghanistan to relax visa policies and remove hurdles to the promotion of bilateral trade. Sarhad Chamber of Commerce and Industry (SCCI) senior vice-president Shahid Hussain told a meeting on the chamber’s premises that business communities of both Pakistan and Afghanistan required hassle-free visas to travel to their
Pakistan exported 120,000 mobile phone sets to various markets in the Middle East and Africa in the current month, but the local manufacturer expressed dissatisfaction over the quantum. Addressing a ceremony held at the Pakistan Telecommunication Authority (PTA) headquarters to mark the achievement, Member (Finance) Muhammad Naveed and Member (Compliance & Enforcement) Dr Khawar Siddique
Kohinoor Spinning Mills Ltd said on Wednesday it’s temporarily shutting down production owing to multiple reasons, including the “prevailing global and economic downturn,” high production cost and low demand. It told shareholders that the situation is likely to improve in the first quarter of next year and that may enable the company to resume operations. Many textile makers are facing a liq