A number of petrol pumps in several major and small cities of Punjab have been facing severe shortage of petrol, annoying motorists who were seen waiting in long queues at petrol pumps to buy the commodity. The situation seems worst in some major cities like Lahore, Gujranwala and Faisalabad where several petrol pumps have either no or meager supply of petrol for the last many days allegedly du
For the first time the dollar rate against the rupee in the ‘grey market’ fell significantly lower than that of the open market on Tuesday, reflecting a loss of attraction for dollars smuggling to Afghanistan. The dollar sold at Rs273 in the grey market, dubbed the Kabul market, and at Rs282 in the open market. The situation has changed after the free-floating of the exchange rate in Pakistan.
Stocks surged on Monday as press reports hinted at the government’s commitment to meeting the terms of the International Monetary Fund (IMF) for the revival of a $7 billion loan programme. Arif Habib Ltd said the exploration and production sector was in the spotlight following the news that the government is trying to settle the outstanding gas sector’s circular debt at once. Trading volumes ro
At the Apex Committee meeting over terrorism in Peshawar on Friday, Prime Minister Shehbaz Sharif complained that the International Monetary Fund (IMF) mission visiting the country for discussion to resume its bailout package was giving a ‘very tough time’ to Finance Minister Ishaq Dar and his team. It is time the Fund did it. Period. If Pakistan wants to break up with the lender of last resort
National Transmission and Despatch Company Ltd (NTDC) has completed a 29km long double-circuit transmission line from Polan, Iran to Gwadar. With the construction of the transmission line, Pakistan’s transmission system has become capable to evacuate an additional 100MW of Iranian electricity to various parts of Balochistan. The testing of circuit-II of the transmission line was comple