Share prices rose initially on Monday, but pessimism soon overpowered the bulls and drove down the representative index of the Pakistan Stock Exchange. Arif Habib Ltd said a lack of investors’ involvement pushed the index into the red territory soon after the opening bell rang. Trading remained subdued for the rest of the session with prices swinging in both directions before closing on the low
Oil prices soared Monday after top producers unveiled a shock output cut of more than a million barrels, while equities mostly rose after data showed US and European inflation eased further last month. However, the decision by the Organisation of the Petroleum Exporting Countries OPEC+, the cartel, which has other top non-OPEC oil-exporting nations, fanned concerns about a fresh spike in prices
Finance Minister Ishaq Dar will represent Pakistan at the World Bank and the International Monetary Fund’s spring meetings in Washington next week, as it will be another opportunity for Islamabad to campaign for the renewal of its IMF package. “Due to financial constraints, the finance minister will come with a small entourage,” a diplomatic source told Dawn. “But the finance secretary and the
High oil prices, massive drop in auto sales, low power generation and economic slowdown restricted the country’s overall oil products sales which declined by nine per cent in March and 21pc during the first nine months of the current fiscal year (9MFY23). According to Nasheed Malik of Topline Securities, this is the lowest monthly sales figure in 35 months, since February-April 2020. Oil sal
Amid consumers’ opposition, the National Electric Power Regulatory Authority (Nepra) reserved judgment on the government’s request for reducing electricity subsidy by about Rs20 billion through about Rs6.02 per unit increase in K-Electric’s consumer-end tariff from April to June.While concluding the public hearing on a petition filed by the Power Division for a hike in KE’s consumer tariff, Nepra