Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh has called for the immediate opening of the Chaman border as thousands of trucks and other vehicles have been stranded for over a week hampering economic activities. “The Chaman border should be opened immediately to alleviate the sufferings and financial losses of the traders and allow essential suppli
OpenAI on Monday released a higher performing and more efficient version of the artificial intelligence technology that underpins its popular generative tool ChatGPT, making it free to all users. The update to OpenAI’s flagship product landed a day before Google is expected to make its own announcements about Gemini, the search engine giant’s own AI tool competing with ChatGPT head on. “We’r
Wall Street Bank Citi expects Pakistan to reach an agreement with the International Monetary Fund for a new four year of up to $8 billion programme by end-July, and recommends going long on the country’s 2027 international bond. Pakistan last month completed a short-term $3bn programme, which helped stave off sovereign default, but the government of Prime Minister Shehbaz Sharif has stressed th
The influential sugar industry is attempting to align bagasse prices, a residue of sugarcane, with coal prices in order to increase them by five to eight times the prevailing value, sources said on Monday.” Bagasse is used as biofuel at the industrial level. Due to the increasing high cost of thermal energy and significant taxes on it, various options are being explored in Pakistan to reduce e
Thanks to a significant drop in the international market, petrol and high-speed diesel (HSD) prices are expected to decrease by about Rs15 and Rs9 per litre on May 15 despite increased import premiums. Informed sources said the prices of petrol and HSD had declined in the international market by about $8.7 and $4.3 per barrel, respectively, in the last fortnight. Depending on the final calculat