Foreign investment in domestic bonds saw a significant outflow during the first 23 days of August, reflecting a sharp decline in investor confidence. According to State Bank data released on Wednesday, foreign investors pulled out $103.5 million from treasury bills during this period. Financial market experts attribute the outflows to the country’s heated political environment and the repeat
The Economic Coordination Committee of the federal cabinet on Wednesday amended the gas supply priority list by placing gas for industrial processes in the first priority, alongside the domestic and commercial sectors. The meeting, chaired by Federal Finance and Revenue Minister Muhammad Aurangzeb, also decided that gas use for industries using captive power was relegated to a lower priority a
Amid increasing pressure from the public and the business community to review power contracts to end unjustified capacity payments, an independent power producer (IPP) has announced that it is submitting proposals to the federal government to lower electricity prices and adjusting its rate of return from US dollars to the local currency. Shaharyar Chisti, chairman of Pak Asia Investment, the pa
In a surprise move, the Punjab government has withdrawn the much-publicised electricity subsidy for consumers in Islamabad for September. According to a statement issued by Islamabad Electric Supply Company (Iesco) on Wednesday, the Rs14 per unit subsidy in electricity bills for federal capital consumers has been suspended by the Punjab government. However, consumers in other parts of Punjab
Despite heightened political tensions amid persisting uncertainty over IMF loan approval, the robust remittances, falling global crude oil prices and a likely third straight cut in interest rate boosted market sentiments, tossing the KSE benchmark index above 79,000 barriers on aggressive mid-session value-hunting. Topline Securities Ltd said institutional buying in blue-chip stocks drove t