Despite high expectations of a cut in the prices of two key fuel products, the government on Tuesday kept the prices of petrol and high-speed diesel (HSD) unchanged for the next fortnight. However, it slightly reduced the prices of kerosene, light diesel oil and liquefied petroleum gas (LPG). In a late-night announcement, the Ministry of Finance said the ex-depot prices of petrol and
Shell Pakistan Ltd (SPL) said on Tuesday it has received a public announcement of intention from Saudi Arabia-based WAFI Energy LLC to buy up to 77.42 per cent of its shares, which are currently held by the oil firm’s foreign sponsor. The potential acquirer is a Saudi retail gas station network and a sole licensee of Shell retail pumps in the Gulf nation. Earlier in June, SPL told investors
The Ministry of Finance has said debt servicing will pose significant challenges as over 91 per cent of all expenses are interest payments. In a monthly report on the state of economy, the ministry expressed the hope that nascent economic activities would remain better throughout the fiscal year. “On the expenditure side, higher markup payments will continue to pose significant challenges fo
Trading on the shares market commenced on the week’s first working day on a strong note as the benchmark of major stocks remained in the green zone throughout trading hours. Topline Securities Ltd said the KSE-100 index settled on the higher side ahead of the State Bank of Pakistan’s monetary policy announcement, which was scheduled in the post-trading hours on Monday. Power, fertiliser, cem
The International Monetary Fund’s (IMF) role is to help countries recover from financial crises by offering them loans, albeit with the caveat of imposing structural programmes, which is where the controversy begins. The 1997 Asian Financial Crisis was a convoluted region-wide crisis. Thailand, Singapore, Malaysia, Indonesia and South Korea operated in a hot-money bubble in the 1980s and 1990s: