After a gap of almost one year, Pakistan on Wednesday received three bids for two additional liquefied natural gas (LNG) cargoes needed for the peak winter demand at a significantly higher premium over the prevailing spot market. Petroleum Minister Muhammad Ali later announced in the evening that the government had accepted two lowest evaluated bids to minimise winter gas shortage following a d
Shares at the Pakistan Stock Exchange (PSX) continued an upward trend on Tuesday, with the benchmark KSE-100 index making marginal gains of 129.72 points or 0.28 per cent, closing at 46,756.80 points as compared to the previous close of 46,627.08 points. Trading in the stock market started on an optimistic note on Tuesday as investors received good news on reforms taken in the energy sector, in
The Board of Directors of Javedan Corporation Limited (JCL) announced the financial results for FY23 last week, as per a press release. The company reported a profit of Rs8bn, representing the company’s highest-ever profit. A final cash dividend of Rs6 per share, equivalent to 60pc of the face value, was approved. This amounted to a payout of Rs2.3bn. JCL is the owner company of Naya Nazimab
The PKR continued to improve against the US dollar in the interbank market on Tuesday, extending its gains for the 19th consecutive session that followed a crackdown on the informal currency market that began early last month. According to the Forex Association of Pakistan, the rupee gained Rs1.04 against the US dollar, reaching Rs285.72 by close, up 0.36pc from yesterday’s close of Rs286.76.
Projecting a persisting mix of sluggish growth rate and high inflationary trends with significant downside risks, the World Bank on Tuesday advocated Pakistan for a sharp fiscal adjustment of about 4pc of GDP and decisive implementation of broad-based reforms committed to the International Monetary Fund (IMF) to get out of the fiscal and macroeconomic quagmire. “Predicated on the robust impleme