The oil import bill grew a paltry 1.35 per cent in the first seven months of the current fiscal year to $9.46 billion from $9.33bn over the corresponding period last year, showed data released by the Pakistan Bureau of Statistics (PBS) on Monday. The data analysis suggests that all the groups, including petroleum goods, consumer durables and raw materials, have witnessed a growth in imports dur
The opposition in the Senate staged a protest after the chair set a new precedent, withholding the results of the count after hesitantly allowing voting on a motion for the immediate consideration of the State Bank of Pakistan (Amendment) Bill. The bill, moved by PTI Senator Mohsin Aziz, proposes to raise the minimum credit limit extended to the private sector by banks in each province. Obje
Electric vehicle maker Tesla has begun hiring in India, with the company of tycoon Elon Musk issuing advertisements days after US President Donald Trump’s right-hand man met with India’s premier. Tesla has more than a dozen job listings on its website, for both the capital New Delhi and economic hub Mumbai, including for a store manager and service technicians. The job listings were posted o
Following a botched attempt, the government has moved the privatisation of Pakistan International Airlines (PIA) to the second phase and will now focus on the sale of power distribution companies (Discos) on priority in the first phase, notwithstanding concerns over preparedness. This was officially conveyed to a group of executive directors of the World Bank currently visiting Pakistan to touc
A range-bound session marked trading at Pakistan Stock Exchange (PSX) on Thursday as investor sentiment remained mixed in the corporate earnings season. Though the KSE-100 index kicked off proceedings on a positive note, it closed with a loss of 361 points. The index touched the intra-day high of 113,477.71 earlier in the day, but the strength proved short-lived, with bears taking over control