The Pakistani currency dipped by Rs0.03, closing at Rs278.36 against the US dollar in the inter-bank market due to a decrease in the supply of foreign currency in the domestic economy. Overall, the currency remained stable, fluctuating in the range of Rs278-278.50/$ for several weeks. The recent nominal depreciation occurred after Tresmark, the treasury firm, reported that exporters had slow
Karachi have urgently called on the government to develop a sustainable and pragmatic policy to halt the immediate closures of factories across all seven industrial zones of the port city. They are striving to stem the rising tide of Small and Medium Enterprises (SMEs) and other units already struggling, which are being forced to shut down due to increasing energy tariffs. This situation has led t
Saudi Aramco, the world’s most integrated oil company, has made its first foray into Pakistan’s retail fuel market by acquiring a 40 per cent stake in Gas & Oil Pakistan (GO). The acquired company, GO, is a diversified downstream fuels, lubricants, and convenience store operator with a network of more than 1,100 retail outlets in Pakistan. It provides petrol, diesel, and lubricants through stor
Oil prices slid on Monday as the Opec+ group of major crude producers signalled they would start to unwind output cuts later this year, with softer than expected US manufacturing compounding fears of weakening global oil demand. The concerns pulled stock indices back from earlier highs, seen on the back of hopes that easing inflation could allow the Federal Reserve to cut interest rates later t
The ministry of commerce has asked all transport operators to obtain a “temporary admission document” (TAD) by June 15 in order to carry out operations under the bilateral trade arrangement between Pakistan and Afghanistan. “No vehicle will be allowed to carry on bilateral trade between Pakistan and Afghanistan after June 15 without obtaining a TAD,” a commerce ministry notification said on Mon