The shares market witnessed another bearish session on Tuesday as the status quo in the monetary policy announced a day ago did not receive much appreciation from stock investors. Topline Securities said trading began on a positive note, but profit-taking in cement, technology, fertiliser, chemical and glass sectors contributed negatively to the KSE-100 index. Arif Habib Ltd said investors’
The remittances sent by overseas Pakistani workers dipped month-on-month by 4 per cent and 10pc year-on-year to $2.1 billion in May. The latest data released by the State Bank of Pakistan (SBP) on Tuesday showed that the country lost $3.7bn in remittances during the first 11 months of FY23 mainly due to a widening exchange rate gap. The inflows tumbled by 12.98pc to $24.831bn in 11MFY23 com
Prime Minister Shehbaz Sharif will undertake an official two-day visit to Azerbaijan from Wednesday, a day after Pakistan issued two tenders seeking spot LNG cargoes for the first time in nearly a year, and also announced a deal that will see Baku supplying Islamabad with one LNG cargo every month. Pakistan LNG, a government subsidiary that procures LNG from the international market, has one te
Pakistan Tehreek-i-Insaf Chairman Imran Khan on Tuesday said after returning to power, the PTI would create a federal ministry to boost the dollar income and a separate set-up planning and looking for venues to generate greenbacks so that perennial problems can be sorted out. Addressing a webinar, with a rather extended title — From Crisis to Catastrophe: Budget 2023-24 and Plight of Common Pak
The National Electric Power Regulatory Authority (Nepra) on Tuesday notified about Rs1.61 per unit additional fuel cost adjustment (FCA) in power tariff for ex-Wapda distribution companies (Discos) for one month to mop up about Rs15.6 billion in additional funds in the current billing month. The “adjustment of an increase of Rs1.6075/kWh shall apply to all the consumer categories except Electri