Millat Tractors Ltd (MTL) will resume production activities on Thursday. In a stock filing on Tuesday, the company said sales would continue to be restricted until the Federal Board of Revenue (FBR) clarifies the sales tax refund procedure and applicability. MTL suspended tractor production on Aug 22 till further notice due to the government’s failure to issue a mechanism for payment of refu
Overall oil sales decreased by 14 per cent year-on-year to 1.21 million tonnes in August due to the monsoon season, while these increased by 2pc due to a full working month, unlike July. Oil sales fell 12pc to 2.4m tonnes in July-August FY25 compared to 2.8m tonnes in 2MFY24. Myesha Sohail of Topline Securities said that petrol sales fell 7pc YoY but showed a rise of 6pc MoM to 625,000 tonnes i
The Central Development Working Party (CDWP) on Tuesday cleared a total of eight development projects worth Rs144.3 billion. A meeting of the CDWP, led by Minister for Planning and Development Ahsan Iqbal, approved five development projects with an estimated cost of Rs15.35bn and recommended three others worth Rs129bn to the Executive Committee of the National Economic Council (Ecnec) for forma
Finance Minister Muhammad Aurangzeb asserted on Tuesday that Pakistan was heading in the right direction towards achieving macroeconomic stability and continued to stress the importance of securing external financing necessary to secure IMF’s approval for a $7 billion bailout package, with the support of provincial governments. In a recorded address broadcast on national television, Mr Au
The Pakistan Stock Exchange (PSX) experienced a mixed session on Monday, with the KSE-100 Index closing 205 points lower after fluctuating between gains and losses throughout the day. The stock market’s benchmark index began the session on a positive note, reaching an intra-day high of 79,014.68. However, profit-taking in the second half of the session pushed the index down to the intraday low