Bears returned to the trading floor of the Pakistan Stock Exchange (PSX) on Monday as the benchmark index lost over 300 points on political uncertainty. According to the PSX website, the KSE-100 index had gained 402.07 points at 11am to stand at 65,039.70 points, up 0.62 per cent, from the previous close of 64,637.63. However, the benchmark index rapidly shed its gains by noon. It finally cl
The caretaker government on Monday decreased the price of petrol by Rs8 per litre for the next fortnight. In a notification issued today, the Finance Division said the government decided to reduce the price of petrol for the fortnight starting from January 16 as recommended by the Oil and Gas Regulatory Authority. According to the announcement, the ex-depot price of petrol was cut to Rs259.
Ahead of the proposed induction of the private sector for divestment and management contracts, the caretaker government has prohibited all forms of union activities in the power sector. This decision encompasses all public sector power companies, including those in the business of generation, transmission, distribution and sale of electricity, bringing them under the scope of the “Pakistan Esse
Large-scale manufacturing (LSM) staged a partial recovery in November after a contraction in the preceding month, data released by the Pakistan Bureau of Statistics showed on Monday. The LSM posted a paltry growth of 1.59 per cent in November on a year-on-year basis. The main contributors to positive growth are food, beverages, textiles, leather products, petroleum products and chemicals. Th
As the World Economic Forum began its annual session in Davos on Monday, the Chief Economists Outlook report says global economic prospects remain subdued and fraught with uncertainty. The global economy continues to grapple with headwinds from tight financial conditions, geopolitical rifts and rapid advances in generative artificial intelligence, says the report released by World Economic Forum.