Share prices continued their upward trajectory on Tuesday on positive developments on the macroeconomic front. Topline Securities Ltd said the positive momentum was driven by the tentative scheduling of the Executive Board’s meeting of the International Monetary Fund (IMF) for Dec 7. The board is expected to approve the staff-level agreement with Pakistan, which will pave the way for a loan
Pakistan on Monday floated an urgent international tender for a Liquefied Natural Gas (LNG) cargo in the first part of January to meet anticipated peak winter shortage in the residential sector. The tender, issued by the state-run Pakistan LNG Limited (PLL) with a four-day notice, asked bidders to submit technical and financial bids by Nov 24 for a standard LNG cargo with targeted delivery on J
The Central Power Purchasing Agency (CPPA) on Monday sought a massive Rs3.55 per unit as fuel cost adjustment (FCA) for ex-Wapda distribution companies (Discos) to raise another Rs33bn from consumers in December, despite a healthy 76 per cent electricity generation from cheaper domestic fuels. This comes on top of about 26pc increase in the annual base tariff and around 18pc hike under th
The city’s industrialists on Tuesday warned the caretaker government of intensifying protests from the second week of December if it doesn’t reduce gas prices. “If the government fails to pay attention to the business community’s demand, we will display protest banners all over the city and observe no-export day twice and even thrice a week,” Businessmen Group Vice Chairman Jawed Bilwani told r
In an unprecedented move to prevent a potential surge in local retail prices, the Sugar Advisory Board on Tuesday rejected a proposal from sugar millers seeking permission for export. The millers have sought approval to export 500,000 tonnes of sugar before the commencement of the sugarcane crushing season. The advisory board meeting was presided over by Commerce Minister Gohar Ejaz and attende