Pakistan's growing foreign debt burden continues to weigh heavily on the national economy, with the country paying billions of dollars annually in interest to international lenders, mainly the International Monetary Fund (IMF). According to the Pakistan Industrial and Traders Association Front (PIAF), Pakistan has paid the equivalent of $2.69 billion in interest under various IMF programmes, in
The government is set to give the go-ahead to switch over to a new model of quarterly gas price notifications instead of the current six monthly announcements of tariff revisions. The new proposed mechanism for the gas sector is in line with the model followed in the power sector and is designed to give a boost to the financial health of public gas utilities and tackle the challenge of mounting
The Pakistan Telecommunication Authority (PTA) has commenced the licensing of virtual private network (VPN) service providers under the reinstated Class Value Added Services (CVAS-Data) licensing regime. “This initiative aims to streamline the provision of secure and lawful VPN services in Pakistan while ensuring compliance with national regulations and data security standards,” PTA said in a s
Sitara Peroxide Limited (SPL) announced on Thursday the closure of its operations for “envisaged balancing, modernisation and replacement (BMR)”. The chemical manufacturer shared in a notice to the Pakistan Stock Exchange (PSX) today. The notice said that the management was taking emergency measures to control erosion resulting in leakages of highly inflammable and valuable chemicals due to
Gold rose for a fifth straight session on Thursday to hit its highest in more than three weeks, buoyed by expectations that the US government reopening will restart the flow of economic data and boost bets for further interest rate cuts. Spot gold was up 0.4% at $4,214.52 per ounce, as of 0521 GMT, hitting its highest since October 21. US gold futures for December delivery rose 0.1% to $4,21