Pakistan's central bank Governor, Jameel Ahmad, announced on Wednesday that inflation might surge in the coming months due to budgetary measures, rising energy prices, and the ongoing situation in the Middle East. However, he assured that the foreign debt repayment crisis is now over. He further stated that Pakistan's foreign exchange reserves cover remains below the minimum threshold, standing
BF Biosciences Limited (BFBL) has applied for listing on the main board of the Pakistan Stock Exchange (PSX), seeking to raise a minimum of Rs1.37 billion by selling 25 million shares to institutional, high net worth, and individual investors, pending regulatory approval. The pharmaceutical company plans to use the funds to purchase new plant and machinery, expand its product range, introduce new
The energy ministry had embarked upon major reforms, including operationalisation of an energy exchange, which would allow the power plants to sell electricity to the buyer, Energy Minister Awais Leghari said on Wednesday. Leghari told the Senate Standing Committee on Energy that the ministry was currently facing problems related to high electricity prices. He assured that every possible relief
Volatility persisted on the stock market on Wednesday amid growing political uncertainty as PTI challenged the controversial election law in the apex court a day after it was bulldozed through the parliament. Ahsan Mehanti of Arif Habib Corporation said stocks closed lower on economic uncertainty. “Falling rupee, delays on privatisation of state-owned enterprises, concerns for $15bn unsettled d
Oil prices rose more than two per cent on Wednesday, bouncing back from multi-month lows, after data showed a bigger-than-expected draw in US crude stockpiles, even as worries about weak oil demand in China persisted. Brent crude futures were up $1.84, or 2.41pc, to $78.32 a barrel at 1:35pm EDT (1735 GMT). US West Texas Intermediate crude rose $1.96, or 2.68pc, to $75.16. US crude stocks f