Tri-Star Power Ltd, a captive power plant listed on the Pakistan Stock Exchange, said on Monday there’re reasonable grounds to believe that a potential Turkish acquirer is causing “undue movement” in the share price. It went from Rs3.60 to Rs19.12 between July 1, 2022 and February 28, even though there was no development or material change in the business of the power producer during the eight
In a significant step aimed at facilitating cotton farmers, Prime Minister Shehbaz Sharif on Monday approved its support price at Rs8,500 per 40 kilograms. The prime minister while chairing a meeting of the Agriculture Task Force directed the authorities concerned to place the matter before the Economic Coordination Committee on priority. He urged the provinces to ensure the implementation o
The rupee remained under pressure on Monday in both interbank and open markets against the US dollar mainly due to uncertainties linked with the revival of the IMF programme. The State Bank of Pakistan reported the dollar price appreciated by 84 paise to Rs281.61. The exchange companies, which deposit their surplus dollars in banks, quoted the dollar price at Rs284 in the interbank market. B
Dark clouds continued to hover over the auto sector as overall sales of cars, vans, pickups and light commercial vehicles (LCVs) posted a 73 per cent year-on-year drop in February to 5,762 units which is the lowest monthly sales number after 4,500 units in May 2020. During the first eight months of the fiscal year, overall sales shrank by 44pc to 100,057 units from 178,250 in the same period of
Foreign investors have come out with all guns blazing against the Board of Investment and other “relevant ministries” for turning a blind eye to their plethora of problems, including the holdup in dividend repatriation. The representative body of more than 200 largest multinationals operating in Pakistan has written a letter — seen by Dawn — to the prime minister, saying they’ve not been able t