Shanghai Electric Power Company withdrew its offer to acquire up to 66.4 per cent of K-Electric Ltd, the manager of the offer said in a notice to the Pakistan Stock Exchange on Monday. The deadline for making a firm offer for the K-Electric stake expired on April 20 and Shanghai Electric has withdrawn its bid, Arif Habib Ltd, the manager said in the notice to the bourse. KE is the only elect
Pakistan recorded the highest-ever monthly IT exports of $306 million in March, posting a 37 per cent rise over the corresponding month last year. The official data showed that the IT exports grew 19pc over the preceding month. The previous highest monthly export number was $303m in December 2023, and the industry players have attributed this surge to conducive government policies. Zohaib
Strongly opposing the petroleum pricing deregulation model suggested by the Oil and Gas Regulatory Authority (Ogra), the oil refineries have started shutting down their refining units due to storage constraints caused by declining sales of domestic products and the rising influx of smuggled products throughout the country. “Why would oil marketing companies (OMCs) lift oil product from refineri
Foreign Direct Investment (FDI) jumped by 51.7 per cent to $258 million in March compared to $170m in the same month last year. Higher FDI inflows amid prevailing economic and political uncertainties, particularly after the general elections, would help the new government improve the country’s image abroad through economic reforms. However, the State Bank of Pakistan data released on Monday
The current account posted a nine-year-high surplus in March, making it possible for the country to bring down the overall deficit to below $1 billion during the July-March period of FY24. The March surplus was much higher than February’s $98m. The latest data issued by the State Bank on Monday shows the current account was $619 million in surplus last month — a rise of 15.3 per cent over $5