Low participation from investors led to a lacklustre session on the Pakistan Stock Exchange on Wednesday. Analysts said stock prices came under pressure because of a press report about a $4.5 billion external financing shortfall. Arif Habib Ltd said the benchmark index showed an inability to sustain the 46,000-point level. The key event during the trading session was the result announcement
A SERIOUS conundrum has arisen for the economy. It cannot afford to grow, and at the same time, it cannot lie in the doldrums for very long either. There is no clear answer about how to get out of this situation, hence the choice of the word ‘conundrum’. The most tempting path forward is to do whatever it takes to arrange for another multibillion-dollar bailout from abroad. But all this will do
A CRACK of the whip was all that was needed. The dollar, which had lately been racing to a new high each day, has now reversed course thanks to an army-sanctioned operation against hoarders and black marketeers. Local media reports that confidence in the rupee has strengthened and that now there are more sellers than buyers in the market. Meanwhile, social media has been flush with accounts
THE situation in the country has become dire. For the past year, nearly every month has brought with it a feeling of foreboding. This, many Pakistanis routinely tell themselves, is certainly the lowest and worst point. To offset paying more than double the usual price for basic goods, they ration every drop of petrol by seeking alternative transportation options, buying less food, cheaper food,
Oil and Gas Development Company Ltd (OGDC) told investors on Tuesday it has discovered gas in an exploratory well in Rahim Yar Khan district of Punjab. The company said the discovery is in the Mari East Block where it operates with a 100 per cent mandate. OGDC spudded the well named Chak 214-1 on June 29 utilising the company’s in-house expertise. Drill Stem Test-1 (DST) conducted in the Dungha