The two state-owned entities — Oil and Gas Development Company Ltd (OGDCL) and Mari Energies Ltd (MEL) — on Monday announced separate oil and gas discoveries in Punjab and Khyber Pakhtunkhwa, respectively. In a statement, OGDCL, the country’s largest exploration and production company, announced a significant gas and condensate discovery at its Soghri North-1 well in the Soghri Block, located i
Despite a 1,000 basis points cut in the key interest rate to 12pc since the start of the current fiscal year, the Large-Scale Manufacturing (LSM) sector continued to show sluggish performance, with production contracting by 1.22 per cent in January compared to the same month last year, according to data released by the Pakistan Bureau of Statistics on Monday. The big industry production has see
Despite a pause in interest rate cuts and a weakening rupee due to declining foreign exchange reserves, the Pakistan Stock Exchange (PSX) remained in the green zone for the fifth consecutive week, propelling above 115,000 level after almost two months. According to AKD Securities Ltd, the week started on a negative note as the State Bank of Pakistan’s Monetary Policy Committee delivered a surpr
To mitigate the impact of the tariff war sparked by US President Donald Trump, address uncertainty over tariffs on Pakistan’s exports to the US, and contain the trade deficit, the government must prioritise economic diplomacy and enhance the competitiveness of the export sector. Donald Trump imposed a new 25 per cent tariff on imports from Mexico and Canada, along with a broad 10pc tariff on al
Despite contributing just 0.9 per cent to global greenhouse gas emissions, Pakistan ranks among the top five most vulnerable nations to climate change. The country is already experiencing the devastating impacts of climate change, including erratic rainfall, glacial melt, increased frequency of vector-borne diseases, and extreme weather events. The catastrophic floods of 2022 alone resulted in