The government, on Tuesday, approved a supplementary budget worth Rs147 billion to meet various obligations, including Rs363 million for renovating the Prime Minister’s office and paying honorariums to another department. The Economic Coordination Committee (ECC) of the Cabinet, which made these decisions, also increased the federal government’s wheat procurement quota by another 400,000 metric
Amid consolidation of overnight gains, the stock market on Tuesday turned in a subdued performance as the KSE-100 index inched lower in mixed trading. Topline Securities Ltd said the market initially extended the overnight buoyant momentum, tossing the index to an intraday high of 73,260, gaining 496 points. However, some investors opted to take profits at the day’s high level, which compelled
Dubai Islamic Bank Pakistan Ltd (DIBPL) has signed an issuing bank agreement with the International Finance Corporation (IFC) to support international trade in Pakistan. The IFC’s Global Trade Finance Programme (GTFP) has been operating in Pakistan since 2005. Pakistan is now one of the top markets for the programme with total GTFP commitments of $6.6 billion since its inception and $1.4bn for
Urea sales hit a three-year low, plunging 49 per cent month-on-month to 328,000 tonnes in April and 33pc year-on-year. Sherman Research said that, according to provisional data, DAP sales also declined 12pc to 92,000 tonnes month-on-month but posted a jump of 82pc year-on-year. The decline in fertiliser sales is due to the combined impact of a delay in the wheat harvesting season and the antici
Battery energy storage systems (BESS), in combination with solar and wind power, can bring down electricity prices to as low as 6-8 cents per unit and also serve communities living far off the national grid, a study launched on Tuesday said. Titled “Integrating Battery Storage with Renewables: A Techno-economic Analysis”, the study delineates the various use cases of BESS integrated with renewa