Opec heavyweights said on Sunday oil and gas should not be stigmatised in the climate debate and that the industry had a role to play in an orderly energy transition. Energy ministers from Saudi Arabia, the United Arab Emirates and Iraq, the three largest members of the Opec, have gathered in the Saudi capital Riyadh for the UN MENA climate week. “The three of us here as major hydrocarbon pr
ISLAMABAD: The World Bank has raised concerns over Pakistan’s approach to privatising its state-owned entities (SOEs) and highlighted the adverse impacts of judicial activism, political nuisance, sale of K-Electric and what it called the botched Sarmaya-i-Pakistan model. The financial institution cautioned the government of looming litigation in divestments to foreign states under government-to
The benchmark index of the Pakistan Stock Exchange extended its gains on Thursday amid a decline in global oil prices. Topline Securities Ltd said the upward trend in stock prices should be attributed to a resurgence of enthusiasm among investors for the cement sector. According to Arif Habib Ltd, cement stocks were the star performers during the session with DG Khan Cement Ltd (7.5 per cent
THE finance ministry blaming the hikes in State Bank policy interest rates for the rapid growth in public debt is a case of the pot calling the kettle black. A ministry official told a Senate panel the other day that a 1pc increase in borrowing costs adds a whopping Rs600bn to annual debt-servicing expenses. He maintained that the debt stock had surged by over Rs7tr since January 2022 due to
Lucky Motor Corporation (LMC), the assembler of Kia vehicles, on Thursday reduced the price of various models by Rs100,000-500,000, citing rupee appreciation against the dollar. The new price of Picanto AT, Sportage FWD, AWD and Black limited edition is Rs3.850 million, Rs8.040m, Rs8.770m and Rs9.300m, showing a reduction of Rs100,000-350,000. Sorento 2.4L FWD, 2.4L AWD and 3.5L FWD now carry a