The National Assembly Standing Committee on Commerce on Tuesday raised concerns over 1,000 containers stuck at the ports due to changes in the Export Facilitation Scheme (EFS) and asked for its early resolution. The committee meeting, chaired by MNA Muhammad Jawed Hanif Khan, also proposed to extend the tenure of elected representatives of the Federation of Pakistan Chambers of Commerce and Ind
European Union Ambassador Dr Riina Kionka said on Tuesday that European companies are recognising Pakistan as a potential business destination and are exploring new avenues for economic partnership. The statement came from the envoy ahead of the Business Forum scheduled for May 14-15 in Islamabad. This landmark event, supported by the EU, its member states, and the Government of Pakistan, aims
The federal government has reached a deal with the International Monetary Fund (IMF) for a new $1.3 billion arrangement and also agreed on the first review of the ongoing 37-month bailout programme, the Fund said on Tuesday. Pending board approval, the government can unlock the $1.3bn under a new climate resilience loan programme spanning 28 months. It will also free $1bn for the country und
As a formal feasibility study confirmed more than $60 billion worth of copper and gold reserves at the Reko Diq project in Balochistan at prevailing prices, three state-owned energy sisters have more than doubled their funding commitment close to $1.9bn. Three SOEs — Oil and Gas Development Company Ltd (OGDCL), Pakistan Petroleum Ltd (PPL) and Government Holdings (Pvt) Ltd (GHPL) — had origina
Shares at the Pakistan Stock Exchange (PSX) reversed major gains on Monday as the KSE-100 index shed more than 2,000 points on International Monetary Fund (IMF) concerns over electricity tariffs. The benchmark KSE-100 index shed 2,002.55 points, or 1.69 per cent, to stand 116,439.62 from the last close of 118,442.17 points. Topline Securities, a brokerage firm in Karachi, noted that the mark