News

Govt raises Rs515bn as banks overbid

The government surpassed its target in Wednesday’s treasury bill auction, raising Rs515.2bn, with banks offering more than three times the targeted amount. However, despite the oversubscription, the cut-off yields remained largely unchanged, with a slight reduction of 14bps for one-month papers, bringing the yield down from 10.89pc to 10.75pc. The government raised Rs402.7bn through the dire

Cement, fertiliser power PSX to new peak

Despite a slump in exports and the devastating impact of recent floods, the Pakistan Stock Exchange (PSX) continued its bullish trend, marking the fourth consecutive session of gains. The benchmark KSE-100 index surged past the 152,000-point barrier, reaching an all-time high, buoyed by strong performances from the cement and fertiliser sectors. Ahsan Mehanti of Arif Habib Corporation attrib

Envoy Natalie Baker urges US firms to invest in Pakistan

The acting US Ambassador to Pakistan, Natalie Baker, has urged American companies to invest in and expand their operations in Pakistan. Ms Baker praised the government’s efforts under Prime Minister Shehbaz Sharif to reform the economy and create a more investor-friendly environment. She also emphasised Pakistan’s strategic advantages, including its large consumer market, competitive labour cos

Senate panel warns IT ministry over telecom boards’ secrecy

A parliamentary committee on Tuesday warned officials of the Ministry of Information Technology that a privilege motion could be moved against them after they refused to disclose the names of board members of state-owned telecom entities. The warning was issued by Senator Palwasha Khan, chairperson of the Senate Standing Committee on IT and Telecom, after the special IT secretary declined to sh

PSX extends recovery drive despite flood warnings

Despite wa­­r­nings of super floods in Sindh following devastating monsoon rains in Pun­jab and Khyber Pakh­tun­khwa — bringing the rural economy to a halt, disrupting supply chains, and triggering a spike in perishable prices — the Pakistan Stock Exchange (PSX) extended its recovery for a second consecutive session on Monday. The market defied macroeconomic pressures as investors engaged in se