The Finance Division has refused to allocate funds under the Public Sector Development Programme (PSDP) in the ongoing fiscal year for reduction in loans of the power sector. During discussions in a recent meeting of the Economic Coordination Committee (ECC), the Power Division highlighted the background of the proposal. It told the forum that for loan adjustments, the authorisation of the Mini
The government has foiled an attempt to import Afghan-origin fresh fruits through Iran to circumvent the suspension of bilateral trade, as over 5,500 Afghan transit containers are stranded in Pakistan due to the closure of international borders. The growing number of Afghanistan-bound cargo stuck in Pakistan despite the closure of international borders after recent skirmishes highlights Kabul's
Buying rally continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 1,000 points during the opening hours of trading on Friday. At 10:35am, the benchmark index was hovering at 161,704.79, an increase of 1,047.30 points or 0.65%. Buying was observed in key sectors including automobile assemblers, commercial banks, fertiliser, oil and gas exploration comp
Federal Minister for Investment and Chairman of the Board of Investment (BOI), Qaiser Ahmed Sheikh, held a meeting on Thursday with the delegation from Nova Minerals Ltd, a US-based mining exploration and development company listed on the ASX and NASDAQ, focusing on gold, antimony, and rare earth minerals. During the discussion, the Nova Minerals delegation expressed strong interest in explorin
Oil prices rose more than 2% on Friday after a Ukrainian drone attack damaged an oil depot in the Russian Black Sea port of Novorossiysk. Brent crude futures rose $1.34, or 2.13%, to $64.35 a barrel by 0227 GMT, while U.S. West Texas Intermediate crude rose $1.40, or 2.39%, to $60.09 a barrel. The operational headquarters of Krasnodar region, writing on Telegram, said drone fragments hit thr