Pakistan’s raw food exports rose 4.17 per cent to $5.17 billion during the first eight months of the current fiscal year compared to $4.96bn in the corresponding period last year, mainly driven by a significant rise in sugar and rice shipments. The exports have risen for 19 consecutive months despite unprecedented food inflation in the country’s history. Consumers nationwide are paying higher p
The Privatisation Commission on Tuesday recommended to the Cabinet Committee on Privatisation transaction structure for the second attempt of Pakistan International Airlines Company Ltd (PIACL) based on divestment of 51 to 100 per cent shares capital of the national flag carrier. The proposed divestment will be together with the management control of the airline as well. The final terms and
After repeated failures of the federal and provincial governments to provide sugar at the stipulated rate of Rs130 per kilogram, the Competition Commission of Pakistan (CCP) too has entered the scenario with a warning to the sugar mills. Contrary to the rates announced by the prime minister, and several attempts by the government to maintain retail sales at Rs130 per kg, sugar prices in the mar
Bulls maintained a hold of the trade floor at the Pakistan Stock Exchange (PSX) on Monday as shares gained over 600 points on expectations of a smooth International Monetary Fund (IMF) staff-level agreement (SLA). The benchmark KSE-100 climbed 1,027.32, or 0.89 per cent, to stand at 116,563.48 points from the last close of 115,536.16 at 1:01pm. Finally, the index closed at 116,199.59, up by 663
The finance ministry on Monday clarified in a statement that no proposals to raise government salaries were under consideration after media reports claimed that government salaries and pensions would remain unchanged in the upcoming fiscal year. According to the statement, Finance Minister Muhammad Aurangzeb submitted a written reply to a question asked by PTI MNA and Chief Whip Malik Amir Doga