Despite a negative opening, the stock market on Tuesday maintained its record-setting spree for the second straight day as a bigger-than-expected cut in the interest rate bolstered investor sentiments, helping the KSE 100 index close above 92,000 for the first time. The KSE-100 index hit an intraday low of 91,536.09, losing 401.91 points and a high of 92,514.30, gaining 576.30. However, the in
Higher foreign inflows are expected this month as the remittances crossed $3 billion in October, while the State Bank of Pakistan (SBP) expects $500 million from the Asian Development Bank (ADB) this week. In a briefing with the analysts and researchers after the announcement of the monetary policy on Monday, SBP Governor Jameel Ahmed disclosed that the remittances in October had crossed the $3
The State Bank of Pakistan (SBP) has given in-principle approval to Toko Lab Private Ltd and Accept Technologies Pvt Ltd (PayMob) for establishing themselves as Electronic Money Institution (EMI) and Payment System Operator (PSO)/Payment Service Provider (PSP), respectively. According to the SBP press release on Tuesday, the two companies will now develop their infrastructure and readiness with
The National Price Monitoring Committee (NPMC) directed provincial chief secretaries on Tuesday to conduct regular price evaluations at the district level in collaboration with the Pakistan Bureau of Statistics (PBS) to keep an effective check on the price of essential items items. The NPMC meeting chaired by Planning Minister Ahsan Iqbal also emphasised the need to avoid duplicated efforts by
The government on Tuesday put on record that it had reached an agreement with bagasse-based power plants for tariff cuts and would take four to six months to revise power purchase agreements (PPAs) with 18 other independent power producers (IPPs) set up under 1994 and 2002 power policies. With the approval of the federal cabinet last month, Power Minister Owais Khan Leghari announced the pre-ma