Pakistan is believed to have asked the United States to allow it to build a pipeline for buying gas from Iran or help it pay an expected $18 billion penalty it would face if it did not complete the project by March 2024. Diplomatic sources told Dawn that Petroleum Minister Musadik Malik raised this issue with US officials when he visited Washington earlier this month, explaining to them that it
Pakistan Stock Exchange (PSX) chief executive Farrukh H. Khan said on Tuesday the government should do away with the distortion in its tax policy that currently favours certain asset classes against others. Speaking at a press conference, Mr Khan called for aligning the tax rates for the equity market with those on real estate and agriculture, sectors that’ve traditionally remained undertaxed f
Stock prices oscillated in a short range on Tuesday before settling on the lower side. Topline Securities said investors opted to remain on the sidelines in the absence of any positive trigger. Energy stocks continued to see profit-taking while selected stocks in food, fertiliser, banking, technology and communication and textile sectors witnessed fresh buying. The buying could be attributed
The IMF on Tuesday delivered a major U-turn on its forecast for the UK economy, saying it expected growth this year, just one month after predicting a contraction. Britain’s economy is now expected to expand by 0.4 per cent in 2023, the International Monetary Fund said in its latest outlook document which partly cited weaker energy prices. The institution ripped up its previous forecast in A
Pak Suzuki Motor Company Ltd (PSMCL) on Tuesday announced suspension of motorcycle production till June 10 due to shortage of inventory. In a stock filing, the company said the automobile plant would remain operative.