The stock market closed on the lower side on Monday after recording range-bound trading for the third consecutive session. Analysts cited the rapidly rising electricity cost along with higher tax rates for the corporate sector under the International Monetary Fund programme as reasons for the drop in share prices. Arif Habib Ltd called the dip short term in nature while noting that the decli
An interesting tussle is on within the expanded Organisation of Petroleum Exporting Countries, the OPEC+. To some, propping up the market prices is of utmost importance, while to others, increasing their market share is of optimal interest. And the two objectives are diametrically opposed to each other. While Saudi Arabia, in conjunction with Russia, is striving hard to put a floor beneath the
The government has formally acknowledged that imported liquefied natural gas (LNG) has become the most expensive fuel for power generation in the country, even surpassing furnace oil for whose replacement the multibillion-dollar LNG infrastructure was set up in the first place almost a decade ago. In a major decision setting the reference power-purchase tariff for each month of the current fisc
The total outstanding balances and undisbursed commitments of the non-sovereign transactions of Asian Development Bank (ADB) in Pakistan amounts to $242.48 million by the end of 2022. The latest fact sheet on Pakistan released by ADB showed total commitments in non-sovereign loans, equity investments and guarantees from ADB’s own funds in 2022 amounted to $1.1 billion for 37 transactions in eco
Pakistan, Uzbekistan and Afghanistan will sign a joint protocol on Tuesday (today) to connect the Uzbek rail network with Pakistan Railways. The route for this connection will pass through Termiz in Uzbekistan, Mazar-i-Sharif and Logar in Afghanistan, and culminate in Pakistan via the Kharlachi border crossing in Kurram. This route was finalised in a meeting of a trilateral working group of