Despite aggressive foreign selling, the benchmark KSE 100 index shrugged off overnight negative sentiments and closed in the green on Tuesday. Ahsan Mehanti of Arif Habib Corporation said stocks closed higher on speculation ahead of the federal budget FY25, to be unveiled on June 7. He added that a strong earnings outlook, upbeat World Bank forecast for 15pc inflation for FY25, current accou
Federal Minister for Commerce, Jam Kamal Khan, underscored the importance of nurturing international collaborations and maximising market opportunities for Pakistani businesses during a session on Tuesday. A press statement revealed that Federal Minister for Commerce, Jam Kamal Khan, and Federal Minister for Communication, Abdul Aleem Khan, jointly chaired a cabinet committee dedicated to advancin
The Competition Commission of Pakistan (CCP) has granted a time-bound exemption on the relevant clauses of the product supply agreement between Aramco Trading (ATC) Fujairah FZE Ltd and Gas & Oil Pakistan Ltd (GO Petroleum) for importing and selling gasoline and diesel products to Pakistan. ATC Fujairah, registered in the United Arab Emirates, is one of the world’s largest integrated energy and
Pakistani currency dropped Rs0.09 and closed at Rs278.39 against the US dollar in the inter-bank market on Tuesday, maintaining its downturn for the second consecutive day amid the International Monetary Fund (IMF)’s recommendation to let the rupee devalue further. According to the State Bank of Pakistan (SBP)’s data, the rupee had closed at Rs278.30 against the greenback on Monday. The IMF
The current excise duty structure on tobacco products has led consumers to shift from legally compliant cigarette brands to illegal, tax-evaded ones, causing an estimated annual revenue loss of Rs310 billion for the national exchequer. Illicit cigarette brands now hold over 60% of the total market, as revealed in a report titled “Illicit Cigarette Trade in Pakistan – Current Situation and Way Forw