In a first, Saudi Oil giant Aramco formally entered Pakistan’s retail market with an estimated investment of about $100 million by acquiring a 40 per cent stake in Gas & Oil Pakistan Ltd (GO) — a private entity established almost a decade ago. GO announced in a statement on Tuesday that Aramco, one of the world’s leading integrated energy and chemicals companies, signed definitive agreements to
Shares at the Pakistan Stock Exchange (PSX) broke their record breaking streak and fell more than 200 points on Monday, with analysts attributing the sell-off to profit-taking. According to the PSX website, the KSE-100 index shed 211.31 points to close at 66,012.32 points, down 0.32 per cent from the previous close of 66,223.63. It should be mentioned that the KSE-100 index had reached a sig
WE lag economically even in South Asia. This lag is well-known but not its huge scale. To display that, I compare Saarc economies using World Bank data which runs up to 2022 and thus excludes our poor 2023 data. I focus on the state we left (India) and the one that left us (Bangladesh) to show our lag even against ones with similar DNAs. GDP: South Asia (mean), Bangladesh and India’s GDP per ca
The caretaker government has recently announced its decision to separate Pakistan Customs and Inland Revenue Services (IRS). This action has reignited the rivalry between these two tax groups, leading to a renewed exchange of rhetoric after a gap of 14 years. Back in 2009, a significant reform separated sales tax from customs, and its operation was handed over to the IRS. Despite facing opposit
Mari Petroleum Company Ltd has successfully drilled a third horizontal development well, which has been tested at the rate of around 17 million standard cubic feet per day (mmscfd) of gas. As opposed to a vertical well that’s drilled downwards, a horizontal one is drilled off a vertical borehole at an angle of at least 80 degrees. Mari-124H is located within Habib Rahi Limestone Reservoir of