The government has put to rest all misconceptions and ambiguities surrounding its negotiations with the International Monetary Fund (IMF) that started with the arrival of the mission led by Nathan Porter on 31st January, 2023. The finance minister held a press conference and announced that the government and the IMF had reached an agreement, and the much-awaited Memorandum of Economic and Finan
Indus Motor Company Ltd posted a net profit of Rs1.3 billion in October-December, down 74.9 per cent from a year ago. The result was below market expectations, according to Alfalah CLSA Securities Ltd. The company posted a gross loss of Rs491 million for the quarter because of an elevated cost of goods sold. “The auto sector has been facing headwinds due to the non-availability of raw materials
Oil prices eased on Monday after rising two per cent in the previous session, as investors focused on short-term demand concerns stemming from crucial upcoming US inflation data and refinery maintenance in Asia and the United States. Brent crude futures fell 74 cents, or 0.9pc, to $85.65 a barrel by 0400 GMT after a 2.2pc gain on Friday. US West Texas Intermediate crude was at $78.99 a barrel,
Prime Minister Shehbaz Sharif on Sunday issued directives for speedy completion of solar and wind energy projects. While chairing a meeting on renewable energy, he said it was the government’s main priority to encourage the production of electricity through solar and wind energy sources. The renewable sources would produce low-cost and environment-friendly electricity, he added. PM Shari
The Securities and Exchange Commission of Pakistan (SECP) has warned the public about falling prey to unauthorised lending apps — MoneyBox and MoneyClub. The SECP on Monday observed that these apps were using the names of licenced non-banking finance companies (NBFCs) to gain public confidence in offering lending services without any regulatory approval. The regulator has not granted any pe